Biotech Penny Stocks to Watch In November 2020
Penny Stocks To Watch Before November
One of the most consistently resilient industries in the stock market today isbiotech. With that penny stocks have played a relatively larger roleespecially this year. The coronavirus has also had a hand in propelling anumber of these small-cap biotech names. Obviously, one of the main reasonshad to do with a mad dash for companies to find a potential vaccine. Aided bybillions of dollars from the government, companies of all shapes and sizesshifted focus from main pipelines to a coronavirus cure.While we still don’t have a vaccine, what we do have are millions of new,informed traders. This year saw millions of novice market participants trytheir hands at stocks. Partially due to pandemic lockdown requirements, thisnew bunch of traders flew to platforms like Webull and Robinhood to tradepenny stocks and get in on the action.As volatility became the new addiction, the trend switched from biotechcoronavirus stocks to simply biotech penny stocks, in general. Thanks tothings like cutting edge research and a general climate based on speculation,most biotech stocks under $5 offered that volatility that most day tradersseek out.
Biotech Penny Stocks To Watch:
1. GT Biopharma Inc. (GTBP Stock Report) 2. miRagen Therapeutics Inc. (MGEN Stock Report) 3. vTv Therapeutics Inc. (VTVT Stock Report) 4. Amarin Corporation (AMRN Stock Report) 5. Sesen Bio Inc. (SESN Stock Report)The remainder of the week might be focused on technology. But heading into anew month next week, there are plenty of things to keep in mind. Everythingfrom data readouts to industry and investor conferences, which can all becometheir own catalysts as well. So with one more day left before all that, here’sa list of penny stocks to watch heading into the final session of October.
Biotech Penny Stocks To Watch 1: GT Biopharma Inc.
GT Biopharma Inc. (OTC:GTBP) is one of the biotech penny stocks that hasexperienced a strong year in 2020 and it hasn’t been based on coronavirus. Thecompany focuses on immunotherapy. While there’ve been plenty of developmentsover the last few months, it’s been the last 45 days that has built more upinterest in the company.In its last update, GT Biopharma announced the publication of “NK-Cell-Mediated Targeting of Various Solid Tumors Using a B7-H3 Tri-Specific KillerEngager In Vitro and In Vivo”. This was in the journal Cancers. B7H3 is highlyexpressed on the surface of several types of cancers and when targeted by thecompany’s TriKE™ the findings were favorable. GT found that it has thepotential to enhance natural killer cell immunotherapy in solid tumor settingssupporting further clinical development.But it hasn’t just been TriKE™ as a standalone. This is actually the company’streatment platform and the one its lead candidate, GTB-3550 is built on.GTB-3550 is GT Biopharma’s candidate for treating acute myeloid leukemia andhas already shown a favorable response in Dose Level 3 of its Phase I/IItrial. Furthermore, interim data was chosen for presentation at the upcomingASH conference. GT also said that an abstract will also be published online inthe November supplemental issue of the journal Blood. The first publicationwill be in the online ASH meeting program on November 5, 2020.Given the surge of interest growing in the market, GTBP stock has managed toclimb significantly over the last month. What will November bring?
Biotech Penny Stocks To Watch 2: miRagen Therapeutics Inc.
We just recently began covering miRagen Therapeutics Inc. (NASDAQ:MGEN) thisweek. On October 25th we discussed it among a list of other penny stocks onRobinhood to watch. The main focus for taking a closer look at MGEN after anuptick in trading activity late last week. One thing we preach is researchover the weekend. In this case, research certainly was worth it. Since Monday(the article was on Sunday), MGEN stock has climbed from around $0.50 to highsso far of $1.50; up 200%+ considering aftermarket trading on Thursday.Read MoreEarlier this week, the company announced that it had acquired ViridianTherapeutics in a play to gain access to its thyroid eye disease treatment.Worldwide rights to develop and commercialize VRDN-001 for all non-oncologyindications that do not use radiopharmaceuticals, including the treatment ofthyroid eye disease, were exclusively licensed by Viridian from ImmunoGen,Inc.Why is MGEN stock still on the radar right now? Aside from the fact that thecompany’s stock continues holding recent gains, new filings came out onThursday showing a 9.5% stake by none other than Steven Cohens Point72 AssetManagement. It will be interesting to see what happens next as several keydevelopments have definitely extended drastically this week. Is a pullback instore or are new 52-week highs in store?
Biotech Penny Stocks To Watch 3: vTv Therapeutics Inc.
vTv Therapeutics Inc. (NASDAQ:VTVT) saw one of its most active trading days inmonths, Thursday. The biggest question mark for VTVT stock is whether it willbe a buy the rumor/sell the news event or not on Friday. The company is set topresent preliminary data on the baseline characteristics of participants inits Phase 2 Alzheimer’s drug study next week. While topline results aren’texpected until December this could shed some light on how the trial is going.November 4th is the date to keep in mind. vTv presents at the 13th ClinicalTrials on Alzheimer’s Disease Digital Event. This trial is treatingAlzheimer’s patients also suffering from type 2 diabetes. In light ofThursday’s move in VTVT stock, it will be interesting to see if the momentumcontinues heading into next week’s presentation.
Biotech Penny Stocks To Watch 4: Amarin Corporation
Amarin Corporation (NASDAQ:AMRN) has been an interesting story to follow tosay the least. Shares dropped from over $7 to under $5 in early Septemberafter a ruling on its VASCEPA ANDA patent litigation. The outcome was clearlyunfavorable as you’ll see on the AMRN stock chart. However, the company’s mostrecent developments could shed some positive light on the company this month.Amarin presented new data of its REDUCE-IT study showcasing the potential ofVASCEPA®. The principal investigator of REDUCE-IT Dr. Deepak L. Bhatt said,“The statistically significant substantial benefit in reduced coronaryrevascularization procedures seen as early as 11 months provides clinicianswith a potential additional intervention in a patient population for whom timeis of the essence.”A follow on to this was reported this week at another conference, AmericanSociety of Nephrology Kidney Week 2020. Further details will be presented atthe American Heart Association’s Scientific Sessions in November.
Psychedelic & Mushroom Penny Stocks To Watch
One of the things I discussed above was that there are companies on this listin a newer niche in biotech: psychedelics. Call it magic mushrooms,hallucinogens, shroom stocks, etc. The science behind this focuses on theneural benefits of psychedelic-assisted therapy.As we’ve seen with other “early fringe industries,” like cannabis,psychedelics are beginning to gain more appeal. A lot of that early appealaside from the novel method was the attraction from big investors. Everyonefrom Peter Thiel to Kevin O’Leary, and a slew of early investors in theoriginal pot stock boom flocked to this industry. Among them was Vic Neufeldwho was the original captain at the helm of cannabis trailblazer, Aphria(NASDAQ: APHA).
Time To Watch Biotech Penny Stocks?
What’s more, is that at some point, investors look for key levels for anopportunity. Usually, these are technical levels at the 200-day, 100-day, and50-day moving averages. As sectors (indicated by ETFs) and stocks approachthese key levels, some traders prepare for potential reversals. Now, whetheror not this happens before April is to be seen.But what we can say is that benchmark biotech ETFs like the Nasdaq BiotechIndex ETF (NASDAQ: IBB) and the S&P Biotech (NYSE: XBI) have both come withinrange of their 200-day averages. Is it time to start looking at biotech pennystocks right now? Here are 4 names that have begun trending during the secondhalf of the week.
Biotech Penny Stocks To Watch: GT Biopharma Inc.
Despite a slight pullback over the last few days, GT Biopharma Inc.’s sharesare still up around 20% for the month so far. The company has begun turningheads after a series of headlines sparked attention. GT Biopharma’s pipelineof cancer treatments built on its TriKE platform is at the center of theexcitement.This type of therapy combines proteins that bridge an immune cell and a tumorcell, then drive tumor cell killing power to exponential levels. It has led tonew first-in-human phase studies to treat leukemia. While its GTB-3550 trialshave played a bigger role, the recent news has emphasized the platform’sdynamic capabilities.This month, GT announced preclinical results for its ROR1 TriKE™ productcandidate as a prospective therapy for prostate cancer. GT explained thattargeting ROR1 on cancer cells with TriKE™ and redirecting NK cells to attackand kill cancer cells expressing ROR1 could result in a treatment that limitsthe metastatic potential and invasiveness of certain solid tumors. Based onthese results, the company said that it plans to evaluate this ROR1 TriKE inadditional IND-enabling preclinical studies to transition to a Phase I/IIclinical trial.Roth Capital also recently weighed in on the company. Not only did it issue aBuy rating on the company, Roth also set a $25 price target on the stock.
Biotech Penny Stocks to Watch In November 2020
Biotech penny stocks have been making some big headway in the market in thepast six months. Following the advent of Covid, many investors began to hedgebets on biotech stocks for the future. While some stocks that are dealing withCovid are major frontrunners, it seems as though there is a lot of bullishinterest in the biotech space in general. Plenty of these stocks show a lot ofpotential and investors should be aware of a few key factors.For one, biotech penny stocks tend to rise and fall quite quickly in value.This is because they are dependent on regulatory bodies like the FDA to gainapproval for certain pharmaceuticals or substances. This approval can takemonths or even years to see through. But, if they are given approval, it canbe big news for both investors and the company itself. If we look at 2020, wesee that biotechs took a big dive alongside the whole stock market back inMarch. But, since then, many companies have been able to get back on track ina big way.[Read More] Looking For Top Penny Stocks To Buy Now? 5 Marijuana Stocks ToWatchWhile not all biotech companies are working on Covid, the ones that are havereceived massive influxes of capital from the federal government in the U.S.This capital came in the form of Operation Warp Speed, which has the goal ofproducing a vaccine as soon as possible. Because most biotech stocks arecorrelated with one another, investors should always be staying up to date onwhat is going on in the larger biotech space. With all of this in mind, let’stake a look at a few biotech penny stocks to round out the week.
Biotech Penny Stocks to Watch:
1. GT Biopharma Inc. (GTBP Stock Report) 2. Verastem Inc. (VSTM Stock Report) 3. Sesen Bio Inc. (SESN Stock Report) 4. Agenus Inc. (AGEN Stock Report) 5. Dynavax Technologies (DVAX Stock Report)
Biotech Penny Stocks To Watch 1: GT Biopharma Inc.
GT Biopharma Inc. is one of the “non-Covid” biotech penny stocks to watch.There’ve been several key catalysts to note during the past few months. Thereare also updates that I’m sure some traders are anxious to see. The forefrontof these is the upcoming American Society of Hematology Annual Meeting (ASH).The company’s lead treatment for acute myeloid leukemia, GTB-3550, was chosenfor presentation at the ASH meeting.“GTB-3550 TriKE™ for the Treatment of High-Risk Myelodysplastic Syndromes(MDS) and Refractory/Relapsed Acute Myeloid Leukemia (AML) Safely DrivesNatural Killer (NK) Cell Proliferation At Initial Dose Cohorts,” is the titleof the abstract set for presentation. If you’re unfamiliar with the magnitudeof the meeting, ASH is the world’s largest professional society serving bothclinicians and scientists around the world who are working to conquer blooddiseases.GTB-3550 recently presented favorable results in an interim Dose Level 3update in September. The treated patient saw a decrease in AML blast levels inbone marrow. There was also an improvement in marrow cellularity. Theimportance here is that this part of the trial is focused on 6 different doselevels. Considering Dose Level 3 was well tolerated, the company seemsconfident in its current approach. In the meantime, there’ve been severalother initiative to expand GT’s novel TriKE treatment platform to addressother cancers too. For more information on GT Biopharma & TriKE, click here.
Biotech Penny Stocks to Watch 4: Agenus Inc.
Agenus Inc. is another biotech stock that saw some bullish momentum onNovember 5th. During intraday trading, shares of AGEN stock shot up by around3.2%. Thursday proved to be yet another gain of solid bullish momentum for thecompany. On Monday, November 2nd, shares of AGEN stock shot up by around 10%during intraday trading as well. So, why the big bullish interest in thecompany?Well, recently, it stated that it offered the first dose of afenT-797 to aCovid-positive patient. This clinical trial will help to show whether or notthe drug can be used in those with moderate or severe cases of Covid. Inaddition to working on a Covid treatment, the company states that it hasreceived approval from the FDA to see whether or not the same drug could beused to treat cancer patients.[Read More] Small Cap Stocks Continue Rising; 3 Mining Penny Stocks To WatchNowWhile this may seem like another Covid biotech stock, investors should alsonote that the competition is still ongoing. This means that there is plenty ofroom for newcomers to try their hand at solving Covid-related symptoms. Thecompany has stated that the clinical data from its most recent study could beavailable as soon as mid-2021. In addition, it has stated that it could run aphase 2 trial that would allow it to apply for Emergency Use Authorizationwith the FDA. While these types of things do take time, AGEN stock could beworth watching for its progress in this regard.