There are plenty of catalysts in the stock market this week that could impact the future of investors for the rest of 2022. Critical economic data will be a bellwether for the next move. In the meantime, there’s likely to be no shortage of stock market volatility. This is where penny stocks can shine. This article will discuss five hot penny stocks moving during Monday’s session. We’ll also discuss why they’re moving, and any other potential catalysts in the pipeline.
Penny Stocks To Watch
Regarding penny stocks, broader market trends don’t seem to act as the most significant catalysts. These cheap stocks usually move to the beat of their drums. This doesn’t mean that significant market-shifting events can’t impact penny stocks. But it does mean that on any given day, you’ll find a handful doing the opposite of whatever the S&P or NASDAQ are doing.
One of the most significant contributing factors is news. For smaller companies, headlines can become major catalysts for bullish and bearish trends. With that in mind, here’s a quick list of penny stocks with news that are moving early this week.
- Acutus Medical Inc. (NASDAQ: AFIB)
- Evofem Biosciences Inc. (NASDAQ: EVFM)
- Agile Therapeutics Inc. (NASDAQ: AGRX)
- Cybin Inc. (NYSEAMERICAN: CYBN)
- Hillstream BioPharma (NASDAQ: HILS)
Best Penny Stocks To Buy Now
If you’re looking for the best penny stocks to buy now and news is important to you, there are a few things to be aware of. First, understand that headlines are just a piece of the story. The full scope will get digested once the market begins reading through press release details. In many cases, SEC filings like 8-Ks submitted signifying a material event and outlining even more specifics of a deal that weren’t discussed in a formal press release.
For example, a “major sale” may have occurred, and a company highlights the event in a news headline triggering a big move for that stock. Once the market starts peeling away at the details, they find that the deal isn’t as prominent as was made to be and that stock makes a complete 180 lower.
The moral of the story is whichever penny stocks with news end up on your watch list, make sure to dive deeper to see if or how that news might play out down the line. This can help you determine the long or short-term potential of a news-fueled move.
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Acutus Medical Inc.
Shares of Acutus Medical surged early in the stock market on Monday. The arrhythmia management company released an update regarding its suite of left-heart access products.
Why AFIB Stock Is Moving
AFIB stock started moving after Acutus announced that the FDA cleared it for commercially launching an expanded suite of its products to include the AcQCross Qx system used with TruSeal and FXD delivery system for the Watchman LAAC Device. According to the company, AcQCross is the “first and only transseptal system engineered with an integrated needle and dilator to reduce these exchanges.”
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Evofem Biosciences Inc.
The following two companies, Evofem and Agile Therapeutics may be moving for other reasons unrelated to company-specific news. Recently a landmark case Roe V Wade was overturned by the Supreme Court ending constitutional abortion rights. The result: now the decision will be up to individual states. Now there’s been some speculation on companies that could be on the benefiting end of this decision. One area of interest is contraception and companies providing drugs, ingredients, and the like.
Why EVFM Stock Is Moving
Evofem produces a drug called Phexxi. It’s an on-demand method of birth control for women. Recent results from a post hoc analysis of the registrations Phase 3 AMPOWER trial evaluating Phexxi’s ability to prevent pregnancy revealed strong results recently. Phexxi prevented 99% of pregnancies in the study.
Agile Therapeutics Inc.
Like Evofem, Agile is on the list of penny stocks to watch amid contraception speculation thanks to the Roe V Wade decision. It focuses on women’s health and provides treatments and methods to address specific unmet needs.
Why AGRX Stock Is Moving
Agile produces Twirla, a product designed to offer women a contraceptive option without taking a daily pill. The treatment uses a transdermal patch technology it calls Skinfusion. According to the company, Skinfusion is designed to offer drug delivery through the skin. During the first quarter, Agile reported that Twirla saw double-digit demand growth for Twirla, which was before the Roe V Wade decision.
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Cybin Inc.
For investors, mental health is becoming a more prominent focus, and new treatment methods have begun grabbing attention. One of these methods is through the use of psychedelics. Cybin is one of the companies specializing in the area of psychedelics as a therapeutic and has worked to move its psilocybin platform forward. Monday that became one of the reasons for an early move in CYBN stock
Why CYBN Stock Is Moving
Cybin announced that it received a “may proceed letter” and Investigational New Drug Application clearance from the FDA. This was for its Phase 1/2a clinical trial evaluating CYB003, a psilocybin treatment under development for patients with major depressive disorder. The company expects an interim pharmacokinetic and safety data readout in the fourth quarter.
Hillstream BioPharma
There’s no shortage of companies working on potential cancer treatments, and Hillstream BioPharma is one looking to address the growing unmet needs of patients suffering from the disease. Its focus is on targeting ferroptosis, which it describes as an emerging anti-cancer mechanism for drug-resistant cancers. Its HSB-1216 targets solid tumors and was effective in clinical pilot studies for triple-negative breast cancer and epithelial carcinomas.
Why HILS Stock Is Moving Today
HILS stock is moving after the company announced a collaboration with Sapien Biosciences to evaluate HSB-1216 with immune checkpoint inhibitors. Randy Milby, Hillstream’s Chief Executive Officer, said that the company will also study “the potential synergistic effects of HSB-1216 with the recently approved Bristol Myers Squibb drug Opdualag® (nivolumab + relatlimab), a fixed-dose combination of an anti-PD1 MAb + anti-LAG3 MAb, to demonstrate that targeting a ferroptosis-associated metabolism in tumors may improve the efficacy of cancer immunotherapy.”
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Best Penny Stocks Today
News can be a great way to find penny stocks to watch. When it comes time to buy them, you’ll have to dig a little deeper to determine if that news has a lasting impact on the market. In many cases, penny stocks with news experience early volatility. When it comes to follow-through, much of that comes down to the market itself. Today we looked at 5 penny stocks with news. After seeing why they moved, are any on your watch list right now?
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