Has the stock market bottomed? That’s what some traders are weighing right now against a backdrop of new earnings data and Fed speak. Meanwhile, small-caps, micro-caps, and penny stocks remain a hot topic among retail traders. Other than their ability to record significant gains within a matter of hours, these cheaper stocks tend to move to the beat of their own drum.
Even when the stock market was down last week, there wasn’t a shortage of 1 and 2-day breakouts from stocks under $5. Today we look at some of the least expensive names that have experienced unusual volume activity. Is this a sign of what’s to come or just a quick pop before another drop?
Penny Stocks To Buy For Under $1
- Brickell Biotech Inc. (NASDAQ: BBI)
- Acutus Medical Inc. (NASDAQ: AFIB)
- Idera Pharmaceuticals (NASDAQ: IDRA)
- Synthetic Biologics (NYSE: SYN)
- Histogen Inc. (NASDAQ: HSTO)
Top Penny Stocks To Buy Right Now
Volatility is running hot right now, and if you’re not prepared to handle it, you could lose more money than anything else. That’s why it’s important to have a game plan and trading strategy to take advantage of quick moves in the market. When it comes to penny stocks under $1, no matter what industry they’re in, slight moves in price equate to much larger percentage changes in value. If you’re looking for the top penny stocks under $1 to buy right now, make sure you’ve got this in your head before jumping right into a trade.
1. Brickell Biotech Inc. (NASDAQ: BBI)
One of the more popular (and cheaper) biotech penny stocks is Brickell Biotech. We’ve discussed this company for the last few weeks, and recently the market seems to have also taken notice. The prescription therapeutics company has turned heads following last month’s earnings update and outlook.
What To Watch With BBI Stock
In particular, Brickell announced that it plans to expand its immunology and inflammation treatment pipeline following the acquisition of rights to its BBI-02 candidate. Furthermore, the initiation of a Phase 1 study for BBI-02 is still on track for this quarter in treating autoimmune and inflammatory diseases, according to the company.
“We continue to execute towards a mid-2022 NDA submission for sofpironium bromide gel, 15% for the treatment of primary axillary hyperhidrosis, and evaluate all available options designed to maximize commercial product success,” explained Brickell CEO Robert Brown. With this outlook and potential future milestones, traders have zeroed in on BBI stock over the last few weeks. Read More articles on BBI stock.
2. Acutus Medical Inc. (NASDAQ: AFIB)
Shares of Acutus Medical have firmly woken up in the stock market today. The arrhythmia management treatment company saw its stock pop as momentum has built in nano-cap biotech stocks. The company has focused on improving how cardiac arrhythmias are diagnosed and treated through the use of electrophysiology. In particular, it established a solution for catheter-based treatment methods.
What To Watch With AFIB Stock
With a strong spike in prices on Tuesday, AFIB stock is back on the radar of traders. Many had watched the penny stock slide after reporting Q4 and full-year earnings last month. Acutus recorded a wider net loss, however, the company managed to beat analyst expectations on revenue. Looking ahead, the company expects Q1 revenue to come in between $3.2 and $3.5 million.
3 . Idera Pharmaceuticals (NASDAQ: IDRA)
Idera Pharmaceuticals surged during the first hour of trading on Tuesday. The biotech penny stock traded some of the heaviest volume since January. There weren’t any headlines to pair with the action. However, news from the end of March could shed some light on what type of speculation is buzzing in IDRA stock.
What To Watch With IDRA Stock
The company’s Q4 and full-year financial results show more robust growth for Idera last year. In particular, its loss per share was significantly better on a year-over-year period, coming in at $0.08 compared to the $2.11 loss per share in Q4 2020. But it wasn’t necessarily the performance that may have caught the market’s attention.
Vincent Milano, Idera’s Chief Executive Officer said, “In addition, we have asked JMP Securities, a Citizens Company, our current partner and advisor on business development activities, to expand their current scope of work beyond acquisition or in-licensing opportunities to include additional strategic alternatives for the Company.”
As the company hunts for “strategic alternatives,” traders may be placing bets on the outcome.
4. Synthetic Biologics (NYSE: SYN)
One of the big movers of March, Synthetic Biologics, is back on the radar following a retracement back to February level. Thanks to operational highlight headlines, the company was in watch lists last month, which the market took as a bullish catalyst.
What To Watch With SYN Stock
Synthetic discussed its VCN Biosciences oncology company acquisition and a recent Orphan Drug Designation for its VCN-01 platform. VCN-01 is Synthetic Biologics’ candidate in treating retinoblastoma. Data published in the Journal for ImmunoTherapy of Cancer suggested that the treatment has an acceptable safety profile. In response, management now expects to begin multiple international studies that include a Phase 2 trial of IV VCN-01 combined with standard of care chemo in metastatic pancreatic adenocarcinoma before the end of this year.
5. Histogen Inc. (NASDAQ: HSTO)
Restorative therapeutics company, Histogen is another biotech penny stock to watch under $1 right now. Like Synthetic, HSTO stock has a history of extensive breakouts (and breakdowns). Earlier this month, the penny stock exploded to highs of $0.47 following a shareholder vote on a proposed reverse split. This was in response to receiving a letter from Nasdaq warning that the company didn’t meet minimum bid price requirements.
What To Watch With HSTO Stock
In a filing, the company wrote:
It is important that your shares be represented and voted whether or not you plan to attend the Annual Meeting virtually. Instructions regarding the different methods for voting your shares are provided under the section entitled “General Information About the Annual Meeting and Voting.”
This notice of our Annual Meeting of Stockholders and the accompanying proxy statement and form of proxy are being distributed and made available on or about April 21, 2022.
Considering the April 21st date is right around the corner, HSTO stock could be on the watch list.
Best Penny Stocks To Buy Right Now
Whether you’re looking for cheap stocks to buy now or penny stocks to invest in, your game plan is crucial. You should understand what the companies are up to and why their stock is moving the way it is. These are just a handful of penny stocks under $1 trending today with unusually high volume levels. We discussed some brief highlights as to what these companies have recently published. Now it’s up to you to decide if they’re worth researching further.