More crazy action in sketchy biotech penny stocks this week…
And hot OTC runners are back!
Some of them can have ridiculously huge moves. But you can’t predict which will run and which will fail. That’s why you must always sell into strength and take profits when you have them.
Don’t be like the bag holders stuck in runners of the past. They believed the hype and now they’re getting crushed. Meanwhile, my students and I move on to the next big runner that fits our strategies and patterns.
We take small gains, but they can add up to millions over time.*
Yet, too many traders continue to hold and hope that one stock or one trade will make them rich. If that’s how you think, it’s time to shift your mindset…
Trade the repeating patterns, ride the hype these stocks offer, then move on to the next.
Here are the top biotech penny stocks I’m watching this week and why.
REMEMBER TO LOCK IN PROFITS INTO STRENGTH! Do not follow others BS, learn to be self-sufficient & ride the hype while never believing it. Trading rules do NOT change, gunslingers always think they found new ways of getting rich, but their inevitable failure reinforces key lessons
— Timothy Sykes (@timothysykes) June 22, 2021
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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Now, let’s get to the top biotech penny stocks to watch this week…
Biotech Penny Stocks #1: Acasti Pharma Inc. (NASDAQ: ACST)
ACST develops drugs to treat cardiovascular diseases.
The company announced fiscal year-end results and a business update on June 22. It included an update on the company’s plan to acquire Grace Therapeutics.
The stock had a green day following the news. I’d like to see more volume for a bigger upside move. It’s on watch for a morning panic dip-buy opportunity.
Biotech Penny Stocks #2: Regulus Therapeutics Inc. (NASDAQ: RGLS)
RGLS develops potential treatments for a variety of diseases. It’s currently developing two potential treatments for kidney disease.
On June 21, the company announced it will present new preclinical data at the virtual PKD Connect Conference 2021 on June 25. The data is from its Phase 1b clinical trials for the treatment of autosomal dominant polycystic kidney disease.
The stock had a green day following the news. The next day it consolidated. I’ll watch it for a potential breakout above $1 with high volume.
Biotech Penny Stocks #3: Todos Medical Ltd. (OTCQB: TOMDF)
TOMDF develops blood tests to detect autoimmune diseases. The company is also working to develop COVID-19 tests.
The company was mentioned in a Seeking Alpha article that reported the company could benefit from the U.S. government’s $3 billion investment into ‘The Antiviral Program for Pandemics’ to develop COVID-19 antiviral drugs.
The stock has been in an uptrend since the article was released but volume is fading. I’ll watch this one for a morning panic dip-buy opportunity.
Biotech Penny Stocks #4: Citius Pharmaceuticals, Inc. (NASDAQ: CTXR)
CTXR is a biotech with an antibiotic lock solution in Phase 3 clinical trials.
This one returns to the watchlist from last week. It continues to trend on Reddit’s penny stock page and it had a massive move over the last week. On June 22 it had its first red day.
It’s on watch for a dip-buy opportunity into a big panic.
Biotech Penny Stocks #5: Sesen Bio, Inc. (NASDAQ: SESN)
SESN develops potential cancer treatments. It’s on the watchlist for the third straight week.
It continues to hold near its recent 52-week highs of $4.68. I’ll watch it for a press release and high volume to potentially push it to new highs.
Biotech Penny Stocks #6: MannKind Corporation (NASDAQ: MNKD)
MNKD develops inhaled therapies for lung diseases.
On June 16 the company announced that the FDA accepted its new drug application for priority review.
After the news, the stock traded high volume and made a small move, but it couldn’t hold its gains. It’s been trading sideways since. I’ll watch for a breakout over $4.60.
Biotech Penny Stocks #7: Adial Pharmaceuticals, Inc. (NASDAQ: ADIL)
ADIL develops potential therapies to treat addictions.
On June 22 the company announced it plans to enter the genetic testing market after receiving a patent for its potential treatment for alcohol use disorder.
Read the full press release here.
The stock traded huge volume and gapped up from $2.87 to $3.52. It made a high of $3.78 before fading back to the low $3s. It has a relatively low float of roughly 15 million shares. I’ll watch for a potential bounce off support and a short squeeze.
Biotech Penny Stocks #8: Clearside Biomedical, Inc. (NASDAQ: CLSD)
CLSD develops potential treatments for serious eye diseases. It’s another stock returning to the watchlist from last week.
It’s holding its gains well after it gapped up on news on June 15. The company announced positive safety results from its Phase 1/2 clinical trial of its potential treatment for age-related macular degeneration (wet AMD).
Read the full press release here.
It was on watch for a short squeeze last week. It squeezed on June 17 when the stock gapped up from $4.08 to $4.99 and spiked up to $6. (Past performance is not indicative of future returns.)
It’s trading in the mid-$4s as of this writing. But volume’s fading. It might need news to drive it higher. I’ll watch for a panic dip-buy opportunity.
Biotech Penny Stocks #9: MediciNova, Inc. (NASDAQ: MNOV)
MNOV develops potential treatments for a variety of serious diseases.
On June 21, the company announced positive data from its Phase 2 trial was published in a psychiatry journal.
Read the full press release here.
After the news, an analyst at Zacks Small-Cap Research gave the stock a $28 price target.
And according to SEC filings, two company directors exercised their stock options and purchased 20,000 shares each at $3.95. See the Form 4s here and here.
The stock had a big move following the Phase 2 trial news. It gapped up from $3.76 to $5.01 on high volume, but it faded throughout the day. The next day it bounced and still traded high volume.
But the stock has a history of failing to hold its gains. I’ll watch this one for a morning panic dip-buy opportunity.
Biotech Penny Stocks #10: Institute of Biomedical Research Corp. (OTCPK: MRES)
MRES offers research and analytical services. It’s a sketchy OTC that just left sub-penny stock territory.
It’s running on Twitter hype that the company updated its profile on OTC markets on June 16. The profile lists a new phone number, address, and lists Kim Halvorson as the CEO and CFO. She’s allegedly worked in other OTC names like Majic Wheels Corp. (OTCPK: MJWL) and Caduceus Software Systems Corp. (OTCPK: CSOC).
I’d like to see this one breakout over 2 cents, ideally with an official press release and high volume.
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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!
Disclaimers
*Please note that these kinds of trading results are not typical and do not reflect the experience of the majority of individuals using our products. From January 1, 2020, to December 31, 2020, typical users of the products and services offered by this website reported earning, on average, an estimated $49.91 in profit. This figure is taken from tracking user accounts on Profit.ly, a trading community platform. It takes years of dedication, hard work, and discipline to learn how to trade. Individual results will vary. Trading is inherently risky. Before making any trades, remember to do your due diligence and never risk more than you can afford to lose.
**Tim Sykes has a minority ownership stake in StockstoTrade.com.
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