Jan 21, 2020 (Penny Stocks via COMTEX) -- It's always fun to write about penny stocks that are trading at lower levels only to see them go on explosive runs afterward. Since our redesign, PennyStocks.com has focused on following the biggest trends, best penny stocks to watch, and top penny stocks to trade . In doing so, we've come across some monumental breakouts.
Just this week we saw a company that we covered only a few weeks ago make a run to levels it hadn't seen in 8 months. Other penny stocks that we've written about like FuelCell Energy ( FCEL – Stock Report ) have gone on to run from under $0.30 to $3 within just a matter of a few months. Needless to say, we aren't stock pickers but we do our best to discuss penny stocks that are capturing attention (even if you don't know it yet).
This brings me to my next point: Robinhood. You've likely seen us talk about penny stocks on Robinhood or "Robinhood penny stocks." The fact of the matter is this, the Robinhood platform is one of the most popular out there especially among millennials.
There are thousands of users that trade stocks on a daily basis. Moreover, you can also see a fair share of users looking for the best penny stocks to buy on the app. That's simply due to the fact that Robinhood restricts its clients from buying some of the more popular penny stocks trading Over The Counter (OTC).
So we like to find some of the top penny stocks on Robinhood and give a starting point for our readers to decide if these popular stocks are worth a closer look or not. Let's be direct by saying not all penny stocks are worth your time but the ones that are can produce handsome returns as you'll see in this list.
First, on this list of penny stocks on Robinhood, Veru Inc. ( VERU – Stock Report ) was one of the penny stocks we talked about in our article Penny Stocks Could Rally In 2020; 5 To Watch This Month. At the time the penny stock was in the midst of a bull run that quietly began in late September. But it really started to see increased trading activity in early December. Needless to say, during that time, VERU stock managed to post a move of 146% since the end of the third quarter last year. This week, shares hit fresh 52-week highs of $4.68.
What's more, is that the company announced the acceptance of 2 abstracts or presentations at the Genitourinary Cancer Symposium in mid-February. According to the company, one of the presentations will offer preclinical data on itsVERU-100 to treat advanced prostate cancer. This comes shortly after Veru announced positive top-line interim data from its Phase 2 clinical trial of zuclomiphene to treat hot flashes in men with prostate cancer.
This was another penny stock we started to cover in mid-December. Aptose Biosciences ( APTO – Stock Report ) has been in rally mode ever since. In fact, if you were to look to the tail end of October, shares of APTO have managed to climb as much as 256% during that time. The company recently saw analysts from Oppenheimer lift the price target to $8 from $6. It also kept its rating at "Outperform." Piper Sandler also announced a price target of $10 and initiated coverage with an "Overweight" rating on the stock.
Ever since the company presented at both the Biotech Showcase and J.P. Morgan Healthcare Conference, sharers have been heading higher. This was a similar reaction in the market after the company presented at the American Society of Hematology conference late last year.
Aptose has been focused on building its CG-806 therapy for targeting leukemia cells. Furthermore, the company has been raising significant funds over recent weeks. The goals are to expand clinical trials of CG-806 and APTO-253 as well as potentially acquire additional clinical assets.
Normally when penny stocks file to raise hundreds ofmillions of dollars, the price tends to shake a bit. With the case of Aptose,that has been the opposite. Most recently the company filed for a $200 millionraise to further expand its pipeline. Will this mean big progress in store for2020 or is dilution around the corner?
Another big winner recently has been iBio Inc. ( IBIO – Stock Report ). Since mid-November, shares of the biotech penny stock have rallied from 52-week lows of $0.05 to highs of $0.32 this week. But one of the things we use as a rule of thumb when looking for companies to add to a list of penny stocks is volume. That wasn't a factor until early December. At the time, the stock traded around $0.11 and saw its first big move since August.
iBio announced that it was part of a new public-private ManufacturingUSA initiative called the Advanced Regenerative Manufacturing USA Institute.The importance here is that some $80 million is being spent by the federalgovernment along with $200 million in cost-share support to develop tissue andorgan manufacturing capabilities.
Most recently the company began collaborating with EdgePoint to implement AI/Blockchain driven TrustPoint vision technology. Robert Erwin, President of iBio said, "Adding this technology to our automated biologics manufacturing facility is a natural fit and may yield substantial benefits. The potential to reduce costs by streamlining labor-intensive manual operations while improving quality is very attractive."
Probably one of the most exciting names on this list of penny stocks on Robinhood this week is NanoViricides Inc. ( NNVC – Stock Report ). It was a penny stock we started following back in early October in our article " 3 Penny Stocks To Buy Or Sell Before Friday? " At the time, shares of NNVC stock traded between $1.50 and $2 but since then, its slow and steady move reached a breakout point this week.
As you'll see on the chart, NanoViricides managed to rallyto highs of $13.45; up 779% since we initially started following the company'sdevelopments. For the most part, the big updates from the company during thattime discussed progress reports on its lead candidate, NV-HHV-101. This is thecompany's topical cream to treat shingles rash. But what could have helped sendthe stock soaring this week has more to do with the coronavirus outbreak andpotential to hit the U.S.
In the company's pipeline, NanoViricides has an experimentalflue drug called FluCide
Finally, a penny stock we've discussed since late-October, Oncolytics Biotech ( ONCY – Stock Report ) has managed to skyrocket during the end of Q4 2019 and beginning of Q1 2020. Initially, the company reported in October that its partner, Adlai Nortye, had gained ground in its clinical progress. It had also gotten approval by the National Medical Product Administration of China. The firm initiated Phase 2 clinical trials for its IV-delivered solid-tumor treatment for cancer.
Since then, there've been plenty of big catalysts that thecompany has announced. So, it's no surprise to see how well things have gone sofar for the company. After topping out at $6.02 at the end of December, shareshave once again started to climb during the second half of January. On January21, shares of ONCY traded as high as $3.71.
Once again, we see vaccine stocks benefiting from thepotential pandemic coronavirus. Oncolytics joined the group of stocks insurging higher to start the new week. The virus seems to have started in Chinaaccording to Media reports. The next step is to see if it comes state-side. Obviously,this is a case of sector news pushing stocks within it. The question remains,can this trend last longer than just a few days?
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