A Penny Stocks Watch List To Kick-Start September
Are you putting together a list of penny stocks to watch for September? If you are, then you’re not alone, and this article will break down a few stocks under $5 that traders are watching at the start of September.
Indeed, all eyes are on the final grouping of economic data set to hit the newsfeeds on Friday. One may say that it could determine the future of the current stock market crash depending on the outcome. But even as broader sectors waiver, there are still plenty of hot penny stocks to buy.
Some haven’t experienced the rampant volatility these cheap stocks are known for. Today’s list includes a few that quietly mounted a comeback from recent lows and are heading into September on firmer footing than earlier this year.
Penny Stocks To Watch
Making a list of penny stocks to watch isn’t difficult if you know what you’re looking for. In this article, the names included have shown a steady and consistent uptrend for more than a few days. It will be important to understand that the trend is your friend until it isn’t. Later in the article, we’ll go over some of the basics of trading penny stocks to help give different strategies for handling certain types of trade set-ups. Let’s dive in and see what’s moving these low-priced names to understand if they’re well-suited for a continuation or if the party is finally over.
1. Party City Holdco. (PRTY)
Speaking of parties, Party City Holdco has seen a strong move in the stock market since mid-July. Shares of PRTY stock have climbed from 52-week lows of $1.04 to highs this month of $2.65. Currently sitting slightly above the $2 mark, the penny stock gained momentum in the stock market today on upbeat consumer discretionary sentiment.
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If you don’t know, Party City is a party supply company. Nearing the Halloween season, speculation has already begun to buzz around earnings and the Q4 performance outlook. The company recently beat Q2 expectations after reporting a 10-cent EPS compared to what was anticipated to be 6 cents. Meanwhile, the company sees its full-year sales between $2.15 and $2.225 billion.
Heading into September, PRTY stock is gaining attention thanks to some short data. According to TDAmeritrade and Fintel.IO, the current short float percentage on the penny stock ranges from around 8% to just over 10%. Given the focus in the stock market today on short-squeeze stocks, PRTY could be one on the radar of retail traders.
2. Summit Therapeutics Inc. (SMMT)
Shares of Summit Therapeutics have been on the list of penny stocks to watch ever since the string of insider activity came about earlier this month. As we highlighted in the article, “4 Cheap Robinhood Stocks To Buy According To Insiders In August 2022,” management was very active. CFO Ankur Dhingra, President Maky Zanganeh, and CEO Robert Duggan took part in this round. Between the three, more than $97 million of SMMT stock was purchased at $0.97. Duggan purchased the bulk (over 94 million shares). Since then, Summit stock has climbed from around $1 to over $1.70 at one point.
Summit’s therapeutic pipeline includes targeted oncology treatments for the human gut microbiome. Its Ri-CoDIFy is undergoing clinical trials, and data from a Phase 3 study was discussed with the FDA in July. This discussion centered on the road to advancing the platform to gain a marketing authorization.
Not much more was released by the company at the end of August. But that hasn’t changed the growing interest in the stock. Thursday marked the 3rd consecutive green day for SMMT stock following the late-month pullback.
3. The Metals Co Inc. (TMC)
Another name on a few penny stocks watch lists is The Metals Company. It first hit scanners as one of the penny stocks to buy for under $1. An obvious caveat is that just because a stock can be purchased for under $1 doesn’t mean it should. In this case, TMC stock has climbed from under $1 to highs of $1.18 this week. Thanks to a more bullish stance on electric vehicle stocks in response to the inflation reduction act, related stocks are back in focus.
TMC explores low-impact battery metals from seafloor polymetallic nodules. More robust earnings and a favorable outlook for the remainder of the year brought a vote of confidence to the market. The Metals Company reported a much better EPS and set plans to initiate a multi-vessel pilot test and environmental monitoring campaign.
What has also added to some excitement is insider buying activity from management and one of the more significant investment funds in the company. A 10% owner Eras Capital LLC bought a total of 6,250,000 shares at an average price of $0.80, bringing its total holdings to nearly 52 million shares. CEO Gerard Barron added to the activity and purchased 103,680 shares at an average price of $0.96.
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4. Geron Corp. (GERN)
Shares of Geron Corp. have quietly climbed over 100% since the start of 2022. The biotechnology company has continued executing its plan to advance its pipeline of candidates for hematologic malignancies. It currently has two Phase 3 clinical trials underway, IMerge and IMpactMF, for myelodysplastic syndromes and refractory myelofibrosis. Last month, it announced the first patient was dosed in an IMproveMF Phase 1 study in frontline myelofibrosis.
Preclinical data supported the move as it has shown meaningful effects of combining the company’s imetelstat with ruxolitinib. The two-part study will evaluate the safety, pharmacokinetics, pharmacodynamics, and clinical activity of the combination as a frontline treatment.
Faye Feller, Executive Vice President and Chief Medical Officer, commented: “We designed the Phase 1 IMproveMF study based on preclinical data that showed the sequential treatment of ruxolitinib followed by imetelstat had a selective inhibitory effect on malignant MF stem cells while sparing normal hematopoietic stem cells. This disease-modifying potential of imetelstat to affect the malignant clones driving disease progression differentiates it from any other drug currently approved or in development for myelofibrosis treatment.”
Looking ahead, that are plans to start an IMpress investigator-led study of single-agent imetelstat in relapsed/refractory acute myeloid leukemia (AML) and higher risk MDS in the second half of 2022. There are also plans to begin a TELOMERE investigator-led Phase 1/2 study of imetelstat in combination with hypomethylating agents (HMAs) or venetoclax in R/R AML in the second half of 2022.
List of Penny Stocks In This Article
- Party City Holdco. (NYSE: PRTY)
- Summit Therapeutics Inc. (NASDAQ: SMMT)
- The Metals Co Inc. (NASDAQ: TMC)
- Geron Corp. (NASDAQ: GERN)
Trading Penny Stocks
Having information about certain penny stocks is beneficial, but only if you know how to use it. Learning how to trade, in the first place, is the best place to start.
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