It’s never a guarantee that penny stocks will always return thousands of percentage points. It’s also not a complete lock that all penny stocks will end in losses. What’s the difference between winning traders and losing traders? Most of the time it comes down to having a proven strategy and executing on that strategy successfully.
But how do you find the best penny stocks? Is it a calling? Does a mysterious voice come to the best traders and give them “penny stock picks”? Or is there something else? Simply put, there’s no mystery about how to find top small cap stocks; you just need to spend time researching.
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During the last few weeks, we’ve gotten messages from traders looking to learn. Aside from downloading our 60+ page eBook, we also discussed different due diligence strategies. Given the fact that people are starting to return to work, the strategy is a bit different than just searching for momentum. The idea of swing trading is becoming much more relevant now, more than any other time this year. Again, people are starting to get back to their “normal” lives. So how do you find penny stocks to buy if you work a full time job?Finding Top Penny Stocks To Watch
What I’d suggest is taking time after the market closes or before the market opens and do some research. Look for stocks that have built upon a consistent trend, have seen stronger volume in the market, and that have some fundamental info to back up that trend. It also might be worth checking out how these penny stocks trade during the pre and post-market sessions.
Are they gapping up, are they gapping down, or are they steadily continuing a prior trend? Furthermore, does that trend show strength and is there a clear channel within that trend? These are all great questions to ask when looking for top penny stocks to trade. With this in mind, here are several penny stocks to watch heading into Thursday morning.Top Penny Stocks To Watch
- GT Biopharma Inc. (GTBP Stock Report)
- Waitr Holdings Inc. (WTRH Stock Report)
- ALJ Regional Holdings Inc. (ALJJ Stock Report)
- VYNE Therapeutics Inc. (VYNE Stock Report)
- AgeX Therapeutics Inc. (AGE Stock Report)
GT Biopharma Inc. (GTBP) has been one of the top biotech penny stocks to watch for a few weeks now. The company has been breaking new barriers in its pursuit of treating acute myeloid leukemia or AML. Small cap biotech stocks that aren’t actively involved in developing tests, vaccines or treatments for COVID-19 have waited in the wings for the market to rotate. Toward the end of September and now into October, we have begun seeing a bit of that rotation. Specifically, we’re seeing a bigger focus being placed on immune treatment and cancer drug companies.
GT Biopharma’s lead drug candidate, GTB-3550 is a “tri-specific recombinant fusion protein conjugate” composed of the variable regions of the heavy and light chains of anti-CD16 and anti-CD33 antibodies and a modified form of IL-15. The main reason why investors should be familiar with it is that GTB-3550 is currently in Phase I/II clinical trials (ClinicalTrials.gov NCT03214666) for the treatment of CD33 positive leukemias including AML.
What’s more is that GTB-3550 is built on the company’s novel tri-specific natural killer engagers or “TriKE™”. It’s a combination protein that bridges an immune cell and a tumor cell to drive tumor cell killing power exponentially. It has led to new first-in-human phase studies to treat leukemia. This unique platform has allowed GT Biopharma to pursue a true “off the shelf” option for the treatment of a number of indications. AML is the main target, however, TriKE™ has been evaluated in ovarian, breast, prostate, pancreatic ductal adenocarcinoma and lung cancer models.Recent Developments To Keep In Mind With GT Biopharma
Over the last few weeks, GT hit the ground running into the fourth quarter with two key updates. First, the company completed the treatment of the first patient enrolled at Dose Level 3 in its GTB-3550 TriKE™ Phase I/II clinical trial. In short, the findings have already shown promise (view full details).
Furthermore, this week, GT entered into a partnership agreement with Cytovance® Biologics. it’s a USA-based contract development and manufacturing organization and a subsidiary of the Shenzhen Hepalink Pharmaceutical Group Co., Ltd. Cytovance will manufacture TriKE™ in accordance with GMP using Cytovance’s proprietary Keystone® bacterial or mammalian expression systems.
Matt Delaney, MBA, M.I.B., Vice President Business Development & Marketing of Cytovance said, “we are pleased to have been selected as GT Biopharma’s exclusive GMP manufacturer for its first three TriKE™ product candidates.”Top Penny Stocks To Watch #2: Waitr Holdings Inc.
Waitr Holdings Inc. ( WTRH) has been on the radar for over a year. The company started out on a very interesting note. We first began following it in November when it hit 52-week lows. We then more consistently began following along in March when we speculated on companies that could capitalize on a “stay at home” trend. Since then, it’s become one of the turnaround stories to track. What was more of a “skeptical” play on Uber Eats or Postmates has actually evolved over the last several months.
One of the key developments early on was management had identified that it was time to take things more seriously. Fast-forward to this week and WTRH stock has reached a fresh 52-week high of $5.85. This came in a surge that lasted months and saw the company continue executing on numerous milestones including expanding its brand in the US.
In the company’s most recent earnings release, Waitr reported a strong quarter. It beat on earnings per share with a gain of 10 cents a share. This was compared to the previous year’s quarter of an EPS loss of 32 cents. Furthermore, the company recorded $60.5 million in sales for the quarter, up from $51.34 million in the year-ago period.Recent Developments To Keep In Mind With Waitr Holdings
While there haven’t been any major developments reported by the company recently, shares have begun making moves again. With the changing tides of where the economy will head next – stimulus, no stimulus – the coronavirus tech stocks in the market are seeing an influx of volatility. Wednesday’s session saw WTRH stock extend higher to $3.74 marking the 5th day in its latest uptrend. Furthermore, after pulling back mid-afternoon, WTRH stock made attempts at a strong close. Heading into Thursday morning, it will be interesting to see if this trend will truly be a friend for traders.Top Penny Stocks To Watch #3: ALJ Regional Holdings Inc.
ALJ Regional Holdings Inc. ( ALJJ) is one of the clearest examples of what happens when news meets a thinly traded penny stock. On average, a “big day” of volume for this penny stock is a few million shares, which hasn’t happened since early August. Other than that, ALJJ stock doesn’t usually trade more than a few hundred thousand shares in a single session.
The company is the parent company of several businesses. These include companies like Faneuil, Inc., a call center service provider, back office operations, staffing services, and toll collection services. They contract to commercial and governmental clients across the United States. ALJ is also parent to Floors-N-More, LLC, d/b/a Carpets N’ More. It’s one of the largest floor covering retailers in Las Vegas, Nevada. Phoenix Color Corp. is another company ALJ is the parent to and is a manufacturer of book components, educational materials, and related products. So what’s happened recently that could have ALJJ on the watch list this week?Recent Developments To Keep In Mind With ALJ Regional Holdings
Don’t just look at the trading volume but what might’ve become a catalyst for that volume. After the close on Wednesday, ALJ announced that results for its fiscal 4th quarter and year ended September 30th will be above its previously provided guidance. Now, I’m no one to speculate but when a company guides on earnings, especially during a pandemic, traders typically take that as a sign of weakness or strength. In this case, ALJ reported that it expects to come in above guidance.
Jess Ravich, Chief Executive Officer of ALJ, said, “Results at Faneuil continued to improve in the fiscal fourth quarter of 2020 and benefited from the recent addition of state unemployment contracts. For Phoenix, results were stronger than expected for the fiscal fourth quarter due to higher volumes for trade components and books. As a result, we anticipate ALJ’s fiscal fourth-quarter adjusted EBITDA to be above prior forecasts previously provided.”
ALJ is currently forecasting adjusted EBITDA for the three months ended September 30, 2020 to be in the range of $8.0 million to $9.0 million versus $5.3 million to $6.8 million as previously. It’s also looking to record adjusted EBITDA in the range of $23.2 million to $24.2 million versus $20.5 million to $22.0 million as previously discussed. Thanks to these developments, ALJJ stock surged during aftermarket trading on Wednesday to $1.50, up 80% from where it closed the regular session.Top Penny Stocks To Watch #4: Vyne Therapeutics Inc.
Shares of Vyne Therapeutics Inc. ( VYNE) didn’t experience a strong aftermarket push like ALJJ. However, it was able to eek out another new high. This marked the 5th consecutive session that VYNE stock has made a new high. It’s also important to note that 4 of those 5 days, VYNE also put in higher lows. With volume picking up into the first full week of October, traders have started to look at the company’s latest developments.
If you remember, we discussed Vyne a few weeks ago. VYNE Stock was trading around $1.80 on its way to highs of $.195 before it’s recent consolidation at the end of September. The company’s focus is on dermatology treatments. In light of this, CEO David Domzalski explained, “Having achieved FDA approval for our two commercial products AMZEEQ® and ZILXI™ ─ in a period of less than eight months ─ is a testament to the value of our proprietary technology and is aligned to the symbolic meaning behind our new name ─ strength, growth, endurance, and resilience.”
This month there’ve been several key updates that might be worth noting. First, the company announced that ZILXI™ (minocycline) topical foam, 1.5% is now available by prescription. it’s being used for the treatment of inflammatory lesions of rosacea in adults. Further to this, the company also gained attention from H.C. Wainwright analysts. The firm maintained a Buy rating on the stock while also raising its price target to $3.50 from $3 previously.Recent Developments To Keep In Mind With Vyne Therapeutics
The company has been in the news this week and has further extended momentum in the market. The company announced a coverage update for ZILXI™. Vyne said that Express Scripts will begin covering the treatment this month. It will have a place on Express Scripts’ National Preferred, Flex, and Basic commercial formularies.
“The addition of Express Scripts to our national coverage for ZILXI is a significant milestone as it represents a large portion of the U.S. commercial coverage patient population,” said David Domzalski , Chief Executive Officer of VYNE. “We are pleased that our contract provides access to this important new option for physicians and patients who have not previously had the rosacea treatment outcomes they are seeking.”Top Penny Stocks To Watch #5: AgeX Therapeutics Inc.
AgeX Therapeutics Inc. ( AGE) is similar to ALJJ in that it too saw a surge of trading momentum in the aftermarket session. The penny stock has been under pressure for the last few months following a nice move up to highs of $1.62 in August. That was the second “top” in the “double top” pattern on its chart and in true fashion, it became a bearish trend to follow. However, over the last few weeks, AGE stock has made attempts to find support. Needless to say, aside from Wednesday’s above-average volume, the price action during the regular market session wasn’t anything different than it had experienced in weeks prior.
However, after the close, AGE stock ended up taking off, just like ALJJ almost to the same highs. In this case, AGE went slightly higher to $1.55, nearly 85% higher than where it closed the regular session. The clinical-stage biotechnology company develops cell therapies for unmet medical needs. In September, ES Cell International Pte Ltd., a subsidiary of Lineage Cell Therapeutics, Inc. inked a deal with AgeX with regard to ESI stem cell lines.
ESI cell lines have current Good Manufacturing Practice (cGMP)-compatiblity, registered with the National Institutes of Health (NIH), and widely studied as a potential source for the industrial-scale manufacture of any cell type in the human body. Neither party made or received any cash payments in connection with this arrangement.Recent Developments To Keep In Mind With AgeX Therapeutics Inc.
In particular, Lineage acquired exclusivity for the use of ESI cell lines in spinal cord injury and certain oncology indications. Through the deal, AgeX gained greater flexibility and independence to support its efforts toward licensing certain technologies and cell lines to third parties. “With this step complete, we next intend to explore additional opportunities to collaborate with AgeX on promising tissue regenerating projects,” stated Brian M. Culley, Lineage’s CEO.
What happened this week with AgeX? Well, a look at the news won’t give much. There wasn’t anything hitting the newswires on October 7th. However, for those “disclosure hunters” out there, you likely found a filing on Wednesday. AgeX shares traded higher following an amended 13D filing that showed Juvenescence Limited has a 50% stake in the company.
On the Juvenescence site, the company explains that, “Treating aging is the ultimate in preventive care. Aging drives the chronic illnesses that are the biggest burden on the healthcare system. A set of successful therapies for aging will target common pathways across age-related illnesses, such as cancer, diabetes, heart disease, respiratory disease, and dementia among others.”