If you’re looking for the best penny stocks to buy now, you’ve got plenty to choose from. The best place to start is to put together a watch list. This article is about penny stocks to watch and a handful of names moving in the stock market today. We dive in and look at what’s behind the moves, what could be on the horizon, and other factors to account for. Then you can decide if they’re right for your list this month.
Penny Stocks To Watch
Whether you’re talking about short-squeeze penny stocks, low float stocks, insider trading, or social sentiment, a theme is a great place to begin. What types of stocks are you looking for and what time frame are you are looking to make your trade should factor into the way you make your penny stocks watch list.
For example, if you’re more of a swing trader and like to ride the wave of a longer-term trend, chances are that you won’t be equipped to trade penny stocks that make big moves within seconds. Then again, if you are prepared to make that type of trade, then chances are you’re not going to be hunting for slow-moving stocks to buy.
Today we look at a handful of penny stocks to watch that gained some recent attention.
Penny Stocks To Buy [or avoid]
1. Ardelyx Inc. (ARDX)
Since mid-June, Ardelyx has made a slow and steady climb back from 52-week lows of $0.4902. As of this article, shares have made their way above the $1 threshold, reaching highs of $1.06 during morning trading on Friday.
Part of the appeal to Ardelyx has been the company’s treatment pipeline. In an August update, the company discussed the progress in launching its IBSRELA platform. Mike Raab, president and chief executive officer of Ardelyx, explained, “We are now three months into the launch of IBSRELA® for the treatment of IBS-C in adults, and see that the market is responding enthusiastically to this much-needed innovative therapy. We are building strong relationships with the treating community and across GI practices. Our sales and marketing launch efforts are raising visibility and building a foundational demand for IBSRELA.”[Read More] Trending Penny Stocks For Your September Watchlist
Regarding future potential catalysts, the company also discussed how the FDA assigned a tentative date for the advisory committee to review a New Drug Application for its XPHOZAH® platform in treating hyperphosphatemia. The data set is November 16th. This could be something to keep in mind if ARDX stock is on your watch list during the year’s second half.
2. Bright Minds Biosciences Inc. (DRUG)
What has likely been the most volatile of the names on this list of penny stocks, Bright Minds Biosciences, has continued wowing day traders. Last month we picked up on progress made by the company as attention in the stock market focused on psychedelic stocks.
The company specializes in drug development designed to leverage therapeutic aspects of psychedelics and serotonergic compounds. Some of the more recent catalysts include a management shakeup and the departure of Dr. Alan Kozikowski as Chief Scientific Offer earlier this summer.
Adding to the excitement was news this week that Bright has begun dosing in a Phase 1 clinical trial. The trial will evaluate BMB-101 for Dravet Syndrome. This phase is a three-part study in 76 healthy volunteers assessing the safety, tolerability, and other pharmacokinetics of the BMB-101 platform. No further details on the long-term timing of the trial were offered, but it will likely be something to account for if DRUG stock is on your watch list this year.
3. IronSouce Ltd. (IS)
Earlier this summer, in mid-July, IronSource caught the attention of traders after several vital milestones and something “a little extra” based on some additional research. The milestones included Unity (NYSE: U). In particular, the two announced that it entered into a definitive agreement for ironSource to merge with the tech company. One of the attractive aspects of IS to Unity is its business platform targeting mobile content creators looking to turn apps into scalable businesses.
A July 14th update outlined some of the attractive highlights of the deal: “The companies’ complementary offerings create a unique end-to-end platform that allows creators to create, publish, run, monetize, and grow live games and RT3D content seamlessly.”[Read More] Top Penny Stocks To Watch Before September 2022
Fast forward a few weeks, and Unity remains steadfast in its intentions to scoop up the tech company. Last month, Unity CEO John Riccitiello said that metaverse opportunity is a “present-day reality” on CNBC’s TechCheck. Regarding the “little extra,” we found some unusual options activity heating up in IS stock. As of this article, most of the open interest in the penny stock’s option chain sits at the September 16th $5 Calls with more than 24,000 contracts.
4. MannKind Corporation (MNKD)
Another one of the volatile penny stocks to watch in 2022 is MannKind Corporation. In the short term, MNKD stock has rebounded from recent lows of $3.41 to highs of over $4 on Friday. In the longer-term, MannKind stock remains relatively steady in a clean trading channel between the $3.30 and $4.40 areas. This channel trade may have put MNKD stock on the list of swing traders lately.
Mixed earnings continue being weighed against the company’s latest milestones. The company missed EPS but beat sales estimates by a wider margin. Commercial product revenues jumped 28% during the second quarter compared to the same period last year. Collaboration and services revenue saw a more significant jump of 171% compared to the first quarter of 2022.
“In the second quarter, we achieved multiple milestones that position the Company for growth over the next decade,” said Michael Castagna, PharmD, Chief Executive Officer of MannKind Corporation. “Tyvaso DPI was approved by the FDA, which allowed us to recognize manufacturing and royalty revenues for the first time this quarter. We also generated revenue from a newly acquired product, V-Go, that is complementary to our endocrine franchise.”
MannKind could be a focus of the market later this month. The company will participate in Fireside hats at the HC Wainwright Global Investment Conference on September 13th.
List Of Penny Stocks In This Article
- Ardelyx Inc. (NASDAQ: ARDX)
- Bright Minds Biosciences Inc. (NASDAQ: DRUG)
- IronSouce Ltd. (NYSE: IS)
- MannKind Corporation (NASDAQ: MNKD)
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