Biotech penny stocks are heating up again, partly due to returned volume and spikes in OTCs.
A few of these biotech penny stocks are also well-known former runners. We’ll see if they can return to their former glory.
I traded a stock on today’s list that offered one of my favorite patterns. And I held it overnight. The risk of halts is never zero but there haven’t been mass SEC halts since February.
I’m still being cautious but I consider the risk/reward before every trade. And when one of my favorite patterns presents itself, I will try to capitalize.
See how I did on my trade and get the top biotech penny stocks list. I’ll show you what’s on my radar and why…
Top Biotech Penny Stocks to Watch
These are the top stocks on my watchlist. ‘Watch’ is the key word here. There’s no guarantee that there’ll be a trading opportunity. Remember, these stocks move FAST.
Before we get to my list of stocks to watch, here are a few of my top resources for penny stocks…
- If you’re new to penny stocks, start here with this FREE online guide.
- Ready to learn how to build your own stock watchlist? This post is for you.
- Discover how I find all the stocks on my watchlists here.
How do I find hot stocks? I use StocksToTrade every day. For me, it’s the best tool because I helped design it specifically for trading penny stocks. (I’m also an investor.) It has awesome charts, built-in scans, social media feeds, and so much more to help you do your research.
And its Breaking News Chat add-on feature is a game-changer in this hot market. It helped me make record profits in 2020.* Get a StockToTrade 14-day trial for only $7…
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(*Please note: My results are far from typical. Individual results will vary. Most traders lose money. I have the benefit of years of hard work, dedication, and experience. Trading is inherently risky. Do your due diligence and never risk more than you can afford to lose.)
Now, let’s get to the top biotech penny stocks to watch this week…
Biotech Penny Stocks #1: MEI Pharma, Inc. (NASDAQ: MEIP)
On Monday, MEIP announced management will present a business update at the 20th Annual Needham Virtual Healthcare Conference on April 12. The stock traded higher than average volume following the news.
I’ll watch for the stock to react after the presentation.
Biotech Penny Stocks #2: IntelGenx Technologies Corp. (OTCQB: IGXT)
IGXT develops oral strips for the treatment of various ailments like migraines, erectile dysfunction, depression, and nausea.
Last week the company announced it shipped its first order of CBD filmstrips to Heritage Cannabis Holdings Corp. (CSE: CANN).
President of the Medical Division at Heritage Cannabis, Umar Syed, said, “We are excited to introduce this innovative, rapid acting sublingual filmstrip CBD product that is based on proven pharmaceutical drug delivery technology into the Canadian and Australian markets.”
Read the full press release here.
The stock is holding near its recent highs. I’ll watch for a breakout over the 50 cent area.
Biotech Penny Stocks #3: Immune Pharmaceuticals, Inc. (OTCPK: IMNPQ)
IMNPQ was on the watchlist last week after it announced receipt of an offer to purchase the company. The acquisition is pending the SEC’s approval.
There’s no recent news on the company but the stock looks like it found support around $0.028. I’ll watch for bounces that hold near the daily highs. That could mean more potential upside.
Biotech Penny Stocks #4: Oncolytics Biotech Inc. (NASDAQ: ONCY)
On Monday, ONCY announced it will host a key opinion leader webinar on April 12 at 2 p.m. Eastern. The panel will discuss the immunotherapy effects of its potential breast cancer treatment.
I’ll watch for the stock to react to the news following the webinar. If I see one of my patterns, I’ll plan a trade.
Biotech Penny Stocks #5: Enzolytics Inc. (OTCPK: ENZC)
On Monday, ENZC announced that its patent-pending coronavirus epitopes “are verified as fully conserved in the UK, Brazil, and South African variants of the coronavirus.”
It was a perfect first green day OTC pattern. It had a news catalyst, high volume, and it closed near its highs.
I bought 89,600 shares at $0.233. I wanted a bigger size but was chasing the ask just to get executed. I sold the next morning at $0.264 for a profit of $2,778.* (See all my trades on Profit.ly here.)
(*Please note: My results are far from typical. Individual results will vary. Most traders lose money. I have the benefit of years of hard work, dedication, and experience. Trading is inherently risky. Do your due diligence and never risk more than you can afford to lose.)
I’ll watch for dip buy opportunities if it continues to run.
Biotech Penny Stocks #6: BriaCell Therapeutics Corp. (NASDAQ: BCTX)
BCTX management is scheduled to present clinical trial findings from its potential breast cancer treatment. It will present its data at the virtual American Association for Cancer Research Annual Meeting on April 10 at 8:30 a.m. Eastern.
On Monday the stock barely broke out above $4.24 resistance. I’ll watch for more potential upside and a reaction following the presentation.
Biotech Penny Stocks #7: Fortress Biotech, Inc. (NASDAQ: FBIO)
FBIO is a biotech that develops and markets dermatology products.
On Monday, FBIO announced its partner company secured $7.5 million in working capital through a line of credit.
The stock traded higher than average volume. I’ll watch for potential continuation to the upside.
Biotech Penny Stocks #8: CytoDyn Inc. (OTCQB: CYDY)
On Monday, CYDY announced it “completed an additional potentially non-dilutive convertible debt offering with an institutional investor, which provides $25 million of immediately available capital.
“The note has a two-year maturity, bears interest at the rate of 10% per annum and is secured by all assets of the Company, excluding its intellectual property. The note may be converted at the option of the investor into shares of the Company’s common stock at a conversion price of $10.00 per share.”
Read the full press release here.
Company officers are also scheduled to host a webcast today at 4 p.m. Eastern to provide a company update to shareholders.
CYDY went supernova in June last year. It’s a former runner so I’ll watch for continued upside and a reaction to the webcast.
Biotech Penny Stocks #9: GeneThera, Inc. (OTCPK: GTHR)
Yesterday, GTHR traded higher than average volume and had a huge spike from 3 cents to 47 cents. It released news that it has the technology to test wastewater for COVID-19 contamination.
Dr. Tony Milici, Chairman & CEO said, “In light of the continuous spreading of the SARS-Cov-2 virus a nationwide wastewater surveillance program should be carried out to better understand temporal and spatial dynamics of disease prevalence, molecular epidemiology and evolution of the virus, and efficacy of public health interventions such as the ongoing mass vaccination effort.”
Read the full press release here.
The stock traded with a large spread. And I missed a dip buy opportunity yesterday morning. I’ll watch for the stock to hold its gains and potentially continue higher.
Biotech Penny Stocks #10: Vascular Biogenics Ltd. (NASDAQ: VBLT)
On Monday VBLT barely broke above $2.17 for a multi-month breakout. Company officers presented at a virtual R&D day for investors yesterday.
I’d like to see more volume come into the stock before I plan a trade.
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I’ll say it again … The stocks on my watchlist aren’t an automatic buy. Remember to do your own due diligence and research. If you’re trading without a trading plan, you’re gambling. Don’t be a degenerate gambler — trade smart!
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Conclusion
Biotech penny stocks are stocks of small, developmental companies. These companies are usually desperate for cash. They need it to continue developing products and for testing and trials. Trade them with caution…
They’re known to be extremely volatile. They can have huge price swings. One minute they’re flying high on positive news — the next they’re down due to bad trial results, side effects, or stock dilution.
If you’re prepared to take advantage of the price swings, these stocks can offer great trading opportunities…
In my Trading Challenge chat room, my students and I talk about the hottest penny stocks. And many top traders who got their start in the Challenge are now chat moderators who answer questions and help out new students.
If you want to join a community of top traders, apply for my Trading Challenge. I don’t accept everyone. I only want the most dedicated students who are willing to put in the time and effort it takes to become my next top student. Could it be you?
What do you think of these biotech penny stocks to watch? Let me know in the comments … I love to hear from you!
The post Top Biotech Penny Stocks to Watch — April 7, 2021 appeared first on Timothy Sykes.