These Penny Stocks Climbed During Premarket, Here’s Why
One of the best ways to stay ahead with penny stocks is to find the largest premarket gainers. While this is in no way the only strategy to use when trading penny stocks, it can be a major asset. Typically, premarket gaining stocks can indicate where momentum during the day will go. This is the case with both individual stocks and sometimes industries as a whole.
[Read More] 3 Hot Penny Stocks to Watch As The First Week of January Ends
Right now, we’re seeing a sizable amount of bullish momentum with biotech penny stocks. However, news from the Fed minutes release is sparking the most recent bear rally across the market. The Fed minutes release showed that the Federal Reserve will become more aggressive to combat the wave of inflation that is incoming. This would include higher interest rates and shrinking the Fed balance sheet.
While this was expected, the stock market is in a highly volatile and speculative place right now. And because of that, the news of this has caused fear regarding the stock market in 2022. Despite this, we still tend to see penny stocks rise even on days when the larger stock market is down. For that reason, let’s take a look at some of the largest premarket gainers to watch today.
3 Penny Stocks That Climbed During Premarket Today
- Freeline Therapeutics Holdings (NASDAQ: FRLN)
- Alterity Therapeutics Ltd. (NASDAQ: ATHE)
- Plus Therapeutics Inc. (NASDAQ: PSTV)
Freeline Therapeutics Holdings (NASDAQ: FRLN)
One of the largest premarket gainers during trading today so far is FRLN stock, which shot up by over 36%. Despite a YTD drop of almost 90%, we are seeing a return of bullish sentiment with the biotech penny stock. While many gains like this occur without news, Freeline made an exciting announcement during premarket trading today. The company stated that it received FDA clearance for its IND application regarding FLT201 for Gaucher Disease Type 1.
“The FDA clearance of this IND is an important milestone for FLT201, which is the first AAV-mediated gene therapy for patients with Gaucher disease Type 1 in the clinic. Our FLT201 program harnesses our unique scientific platform capabilities – our highly potent, proprietary AAVS3 capsid, robust CMC and pre-clinical data across all our programs, and our advanced protein engineering capabilities – to develop a potentially transformative treatment for patients suffering from Gaucher disease.”
The CEO of Freeline, Michael J. Parini
If you’re not familiar, Freeline Therapeutics is a clinical-stage biotech company working on AAV-mediated therapies. These are used in the treatment of inherited systemic debilitating diseases. Today’s announcement is big as any FDA-related news usually is with biotech companies. So, considering this, will FRLN stock be on your list of penny stocks to watch?
Alterity Therapeutics Ltd. (NASDAQ: ATHE)
During premarket, shares of ATHE stock shot up by over 26%. This adds to its five-day gain of over 12%, which is no small feat. Similarly to FRLN stock, ATHE announced an exciting update during premarket trading today.
[Read More] These Penny Stocks Exploded Today, Here’s Why
Today, the company put out a press release stating that it was granted a U.S. patent for compounds for neurodegenerative diseases including Parkinson’s and Alzheimer’s. The patent titled, “Compounds for and Methods of Treating Diseases” covers over 80 novel compounds and gives it exclusivity to several iron chaperones.
“We continue to identify new drug candidates to expand our portfolio and protect our therapeutic approach to address neurodegeneration. With the granting of this patent and another composition of matter patent last year, we are establishing a strong foundation as a leader in targeting iron for potential disease-modifying therapy for important neurodegenerative diseases such as Parkinson’s and Alzheimer’s.”
The CEO of Alterity, David Stamler, M.D.
This is great news for the company and expands its reach into several new possibilities. The patent will grant it the rights to those compounds through 2041, which is major news for the company moving forward. So, with that in mind, do you think ATHE is worth adding to your penny stocks watchlist next week?
Plus Therapeutics Inc. (NASDAQ: PSTV)
While PSTV stock’s premarket gain of over 10% may not be as large as the others mentioned on this list, it is still a respectable move. The big news for Plus Therapeutics comes as the company announced a significant expansion of its oncology drug pipeline. This includes licenses for an interventional radiotherapeutic platform as well as worldwide exclusive rights for patents and tech for precision radiotherapeutic in solid organ cancers. Lastly, the company stated that it plans to submit a treatment for liver cancer as an IND in 2022.
“The future of cancer therapy is precise targeting of tumors with the most potent cancer-killing agents while minimizing damage to normal tissues. Not only does this important transaction further expand our existing Rhenium NanoLiposome technology, but it also helps realize this future. With this technology, we can target almost any solid organ tumor in the body using standard interventional means.”
The CEO of Plus Therapeutics, Marc H. Hendrick, M.D.
This is exciting news for the company and illustrates its continued growth in the biotech industry. Considering this, do you think that PSTV stock is worth watching this month?
Which Penny Stocks Are on Your Watchlist Today?
If you’re making a list of the best penny stocks to buy today, there are hundreds of options to choose from. While it can be difficult considering the sheer number of factors impacting the stock market, having a plethora of information by your side can help with that decision. At the end of the day, investing in penny stocks and blue chips is a very individual task.
[Read More] Best Penny Stocks For January 2022 To Buy Under $5
And because of that, knowing who you are as an investor and what your goals are will be crucial. Right now, we have to consider that the stock market is extremely reactive and volatile. And because of that, it is important to stick to your strategy and adapt to the changing conditions of the economy. With all of that in mind, which penny stocks are on your watchlist today?
If you enjoyed this article and you’re interested in learning how to trade so you can have the best chance to profit consistently then you need to checkout this YouTube channel. CLICK HERE RIGHT NOW!
