3 Under $1 Biotech Penny Stocks Flying During Today’s Session
Finding biotech penny stocks to buy can be challenging. But, biotech penny stocks are extremely volatile and as a result, they tend to result in either making or losing a lot of money. Some big gainers today already include Imperial Petroleum Inc. (NASDAQ: IMPP) and RLX Technology Inc. (NYSE: RLX).
And with a high level of volatility, there are also plenty of opportunities to find biotech stocks before they climb. Now, when it comes to investing in penny stocks or blue chips, understanding your own trading strategy is crucial. This means knowing the difference between whether you’re looking for long term penny stocks to buy or those that might make short term gains. When it comes to biotech, a crucial piece of information is knowing the latest updates as well.
Because they are so speculative, knowing what news and events have come out or are coming out, is incredibly important. This can quickly mean the different between profits and losses. So, as we continue to move through volatile trading periods, let’s take a look at three biotech penny stocks that could be worth watching at under $1 per share.
3 Biotech Penny Stocks Under $1 to Add to Your Watchlist
- Agile Therapeutics Inc. (NASDAQ: AGRX)
- Qualigen Therapeutics Inc. (NASDAQ: QLGN)
- Histogen Inc. (NASDAQ: HSTO)
Agile Therapeutics Inc. (NASDAQ: AGRX)
One of the largest movers during trading today is AGRX stock. At midday, shares of Agile Therapeutics had shot up by over 85%. This is a major gain for the company and comes after a few days of bullish trading movement.
In order to understand why shares of AGRX stock are climbing, we have to look at its most recent news. On April 11th, the company announced that it received $4.7 million after a selling net operating loss tax benefits. This comes through the New Jersey Economic Development program.
“We are pleased to receive these non-dilutive funds from the New Jersey NOL program. The funding will be beneficial to us as we continue to execute on our business plan in 2022. I am most thankful to the New Jersey State leadership and NJEDA for supporting NJ biotechnology companies.”The Senior VP and CFO of Agile Therapeutics, Dennis Reilly
If you’re not familiar, AGRX is a women’s healthcare company that offers products for contraceptive needs. This includes Twirla, Skinfusion, and much more. Right now, there is a lot of movement in the biotech industry as seen with AGRX stock’s price change today. With all of that in mind, will AGRX be on your penny stocks watchlist?
Qualigen Therapeutics Inc. (NASDAQ: QLGN)
During trading on April 12th, shares of QLGN stock managed to shoot up by more than 30%. This is a huge gain for the company and follows the trend of big moving biotech penny stocks today. In the past month, shares of QLGN stock have shot up by more than 47%. For this reason, we have to take a closer look at what is going on with QLGN stock right now. The big news for QLGN stock came today when it announced three new posters that were presented at the American Association of Cancer Research in New Orleans.
“Our lead therapeutic program QN-302 may have the potential to ultimately treat multiple tumor types that are characterized by genomic quadruplexes (G4) which are overrepresented in numerous cancer-related genes. The findings reported in these posters illustrate promising in vivo anti-proliferative activity against pancreatic cancer and metastatic prostate cancer.”The Chairman and CEO of Qualigen, Michael Poirier
Because there is such a high clinically unmet need for pancreatic cancer, it makes sense that Qualigen would be in focus. And with this new presentation, it’s clear that QLGN stock continues to see heightened popularity. With that considered, do you think QLGN stock is worth adding to your list of penny stocks to buy or not?
Histogen Inc. (NASDAQ: HSTO)
With over 35% in gains by midday on April 12th, HSTO is another penny stock that investors are watching right now. In the past month, we’ve seen shares of HSTO stock skyrocket by over 57%, which is quite a large amount.
Additionally, trading volume for HSTO is over 2,600% more than its average right now over the last 100 days. This signifies that the company is trending. While there is no company-specific news today, there are some recent updates. The most recent news from the company came on March 25th, when it announced the closing of a $4.75 million private placement. For some context, Histogen is a clinical stage therapeutics company working on restorative drugs. The company leverages its platform for cell conditioned media and extracellular matrix materials.
Prior to this announcement, the company posted its Q4 2021 and year end financial results. It stated that held more than $18.7 million in cash on hand, which should be sufficient to keep it moving into the second quarter of next year. While HSTO stock is incredibly volatile as seen by its movement today, it’s clear that investors are interested in it. Whether this makes it worth buying or not however, is up to you.
Are Biotech Penny Stocks Worth Buying or Not?
Biotech penny stocks have notoriously been some of the most interesting and potentially profitable penny stocks to buy. However, they are also incredibly volatile and can lead to swift losses if one is not careful.
So, if we consider the risks, we see that there is a lot on the table when it comes to biotech. But, with major updates to the industry everyday, there are plenty of ways to make money with penny stocks in this sector. Considering that, which biotech penny stocks are you watching right now?