This week’s biotech penny stocks to watch are moving on patent news, trial results, insider buying, and a proposed merger…
But even with all these stocks moving on news and hype, I’m still in protection mode. I’m not seeing as many big percent gainers recently. And stocks are choppy.
So it’s time to adapt.
I always say the majority of traders lose. And when I say that I don’t mean every trade or even every day. I mean over time. That’s because they don’t adapt to market changes. And that’s when the market will humble you.
Even some millionaire Challenge traders have had their first red week in months. I’ve made some bad trades myself … But we keep our losses small by cutting losses quickly.
It’s what you learn from your mistakes and losses that determines how you do in the future. Will you learn from them and adapt? Or keep gunslinging and blow up? It’s your choice.
Now, let’s get to 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.
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Now, let’s get to the top biotech penny stocks to watch this week…
Biotech Penny Stocks #1: Skye Bioscience, Inc. (OTCQB: SKYE)
The CEO of Skye Bioscience, Inc. will present at the Benzinga Biotech Small Cap Conference tomorrow.
I’ll watch for volume and a breakout over 15 cents to enter the stock.
Biotech Penny Stocks #2: Halberd Corporation (OTCPK: HALB)
Last week HALB filed an International Patent Cooperation Treaty (PCT) application.
On Monday it had a big move and traded higher than average volume. I’ll watch for a breakout over $0.0769.
Biotech Penny Stocks #3: Therapeutic Solutions International, Inc. (OTCPK: TSOI)
TSOI was on last week’s watchlist after it announced new data and the filing of a patent.
This week the company announced more new data from its immunotherapy that showed anticancer activity in mice.
I’ll watch for more upside, ideally with more volume.
Biotech Penny Stocks #4: Catalyst Pharmaceuticals, Inc. (NASDAQ: CPRX)
On Monday, CPRX announced the company will repurchase up to $40 million worth of shares.
“This share repurchase program reflects our confidence in the long-term outlook for the Company, including our ability to continue to generate strong cash flow,” said Chairman and CEO, Patrick J. McEnany.
Read the full press release here.
Biotech Penny Stocks #5: CTI BioPharma Corp. (NASDAQ: CTIC)
On Monday, CTIC announced positive Phase 1 trial results. That morning the stock had a quick spike before retreating back near its opening price.
The stock couldn’t hold its highs, so I’ll watch for a morning panic dip buy opportunity.
Biotech Penny Stocks #6: Marker Therapeutics, Inc. (NASDAQ: MRKR)
On March 18, the company filed multiple Form 4s showing insider buying. At the same time, an analyst began coverage on the stock, giving it a $6 price target.
The stock moved big on Friday and Monday. Traders can watch for a morning panic dip buy if the stock gets overextended.
Biotech Penny Stocks #7: Acer Therapeutics Inc. (NASDAQ: ACER)
On Monday, ACER announced it signed a collaboration and license agreement with another company.
The stock has a low float of under 10 million shares, so it has the potential for volatile moves. But it has a history of not holding its highs. I’ll watch for a morning panic dip buy.
Biotech Penny Stocks #8: Tauriga Sciences, Inc. (OTCQB: TAUG)
TAUG is another stock from last week’s watchlist. It assembled a sales force to push the release of its new higher-potency CBD chewing gum.
On Monday the company announced it filed an international patent application for its cannabinoid chewing gum. I’ll watch for continued upside but I’d prefer more volume.
Biotech Penny Stocks #9: Genocea Biosciences, Inc. (NASDAQ: GNCA)
On Monday GNCA traded higher than average volume with no news. Last week the company filed multiple Form 4s noting insiders purchased shares through their available stock options.
I’ll watch for continued upside, ideally with a catalyst.
Biotech Penny Stocks #10: Seneca Biopharma, Inc. (NASDAQ: SNCA)
December 2020, SNCA entered into an agreement to merge with the private company Leading BioSciences, Inc. Monday the company announced that an independent advisory firm recommends shareholders approve the merger and reverse stock split.
The shareholder vote is scheduled for today.
If the merger is approved the company would have a new name and trade on the Nasdaq under the ticker PALI.
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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 — March 24, 2021 appeared first on Timothy Sykes.