PGY - 5 Hot Penny Stocks To Watch In The Stock Market Today
2023-10-25 09:19:47 ET
Whether you’re looking for the best penny stocks to buy, the most active stocks today, or just trying to plan out your next long-term investment, understanding things like stock market news and events is important.
While some headlines can elicit short-term spikes in price, others can act as longer-lasting catalysts. In this article, we look at a handful of penny stocks to watch after recent headlines. Many of these news events have sparked momentum in the market.
We summarize what the companies announced and explain what that could mean for the list of penny stocks . Then, you can decide if they deserve a place on your penny stocks watch list or not.
Penny Stocks To Watch With News
Bioxcel Therapeutics (NASDAQ: BTAI)
This week, BioXcel Therapeutics disclosed favorable findings from a third-party audit. This was concerning data integrity at a TRANQUILITY II Phase 3 Trial site. There was no further misconduct or fraud found beyond a previously reported instance.
The audit also supports the reliability of the trial data and a potential supplemental New Drug Application (sNDA) submission for BXCL501 for treating agitation in probable Alzheimer’s disease.
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“We believe these results of an audit by a respected, independent firm validate the integrity of data from the single site in question and add to the body of clinical evidence we intend to include in our sNDA submission,” said Vimal Mehta, Ph.D., CEO of BioXcel Therapeutics.
The positive audit results, alongside the statistically significant trial data, may bolster investor confidence. That may be one of the reasons that BTAI stock has climbed. Shares moved from below $2.40 to over $3.40 during premarket trading on Wednesday.
Panbela Therapeutics (NASDAQ: PBLA)
Panbela Therapeutics’ announced the acceptance of an abstract about their research on SBP-101 and CPP-1X for online publication on the ASH meeting site. This work, done in collaboration with The University of Texas MD Anderson Cancer Center, reflects on the treatment of multiple myeloma and will be part of the permanent ASH and Blood abstracts archive?.
The acceptance of the abstract might bolster Panbela’s scientific credibility. This update has also attracted investor attention in PBLA stock, with shares popping above $1 during premarket trading on Wednesday.
The news comes about a month after the company announced the issuance of a new patent in China. This was for claims of a process for producing SBP-101. This is Panbela’s candidate, ivospemin, for pancreatic ductal adenocarcinoma and other tumors.
Pagaya Technologies (NASDAQ: PGY)
Pagaya Technologies announced a collaboration with a top five bank in the US and a top four auto captive lender. This expansion is expected to substantially grow its network volume and approve more consumer loans and new and used auto loans.
Ultimately, that could potentially increase revenues without additional credit risk. The CEO, Gal Krubiner, emphasized this partnership as a significant step towards working with leading financial institutions in the US. That also aligns with Pagaya’s mission of creating a more inclusive financial ecosystem.
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What could this mean for Pagaya? The new partnerships could be seen as a positive development that might attract more market attention. So far, it has led to a positive impact on PGY stock price in the stock market today. An upcoming earnings call on November 2nd might provide further insights into the company’s financial health. If PGY stock is on your watch list, keep that date in mind.
Altimmune Inc. (NASDAQ: ALT)
Altimmune, Inc. disclosed the upcoming presentation of new data concerning the anti-inflammatory and anti-fibrotic properties of pemvidutide, gathered from a 24-week Phase 1b study in subjects with non-alcoholic fatty liver disease (NAFLD). The data will be shared at The Liver Meeting® 2023.
Pemvidutide, aimed at treating obesity and non-alcoholic steatohepatitis (NASH), demonstrates potential in reducing liver fat and alleviating inflammation and fibrosis markers. This appears to have sparked interest in the market this week. It could also ignite more attention from those searching for innovative solutions in liver diseases and obesity treatment??. Both of these have been popular topics in recent months.
Hub Cyber Security (NASDAQ: HUBC)
Hub Security Ltd is an Israel-based enterprise dedicated to creating confidential computing cybersecurity solutions. It was established in 2017 by veterans of the Israeli Defense Forces’ elite intelligence units and aims to protect sensitive commercial and government information through advanced encrypted computing solutions. The company operates globally, offering a variety of cybersecurity services and innovative computing appliances to over 30 countries?.
In a recent PR, Hub Security announced several initiatives underpinning its commitment to excellence and market repositioning. These initiatives include the launch of a new product line to enhance Zero-Trust security, an upgrade to its flagship product – the Hub Secure File Vault, the introduction of Hub Guard for better cyber risk management, and financial progress marked by active work on H1 financial reports. Additionally, the company is in advanced discussions for new client partnerships. It has also initiated a recovery plan to reestablish its market positioning as a leader in the Confidential Compute arena.
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With more speculation on virtual threats, cybersecurity stocks are gaining momentum. HUBC stock has managed to climb from under 20 cents a few weeks ago to over $0.60 in the stock market today.
List Of Penny Stocks In This Article
- Bioxcel Therapeutics ( NASDAQ: BTAI )
- Panbela Therapeutics ( NASDAQ: PBLA )
- Pagaya Technologies ( NASDAQ: PGY )
- Altimmune Inc. ( NASDAQ: ALT )
- Hub Cyber Security ( NASDAQ: HUBC )