XXII - 5 Hot Penny Stocks To Watch Today Trading Higher After News
If you’re looking for penny stocks to buy, there are a few “secret” ways to build your watch list. Over the weekend, we posted an article: 10 Secret Ways To Find The Best Penny Stocks To Buy In 2022 , and the first way to do so was by looking for news. This has become the first line of communication between investors and public companies for years. It has also become a source of speculation and catalyst-driven momentum daily. Today we’ll look at 5 penny stocks to watch after releasing premarket news that has helped spark early trading action on Tuesday.
Penny Stocks TL;DR Summary
- There are plenty of ways to find the best penny stocks to watch
- News is one of the quickest and easiest ways to identify a reason why certain penny stocks are moving
- Today kicked off a shortened week but one that has already gotten off to an active start
- We look at 5 penny stocks with premarket news that could be on traders’ watch lists going into the week
News is a speedy way to find out why certain penny stocks are on the move. Most companies making announcements tend to release them during premarket hours. For this reason, you’ll see plenty of traders hunting for headlines. The biggest thing to remember is that the lasting impact of specific announcements differs depending on many factors. That’s why it’s essential to not only read the headlines but also dive into the details of each. Today we look at 5 penny stocks with premarket news that is triggering early momentum on Tuesday.
Penny Stocks To Watch
- BioLineRx Inc. ( NASDAQ: BLRX )
- Kosmos Energy ( NYSE: KOS )
- NRx Pharmaceuticals ( NASDAQ: NRXP )
- 22nd Century Group ( NASDAQ: XXII )
- NeuroMetrix Inc. ( NASDAQ: NURO )
BioLineRx Inc. (NASDAQ: BLRX)
Despite the latest pullback to start the year, BioLineRx has remained focused on progressing its pipeline of oncology treatment candidates. In particular, the company’s Motixafortide for bone marrow transplantation has come back into focus this week.
Why Is BLRX Stock Moving?
Tuesday morning, the company announced that it completed a successful pre-NewDrug Application (NDA) meeting with the FDA for Motixafortide. Understanding what the FDA is looking for to push candidates through the trial process is key in moving treatments forward. In this instance, BioLineRx confirmed that the FDA was content with its single Phase 3 pivotal study, GENESIS, to support an NDA submission. The company expects to submit its formal NDA during the first half of this year.
Read: Stock Market News for Today, January 18th, 2022
What To Watch With BLRX Stock
In addition to the latest from the company, it’s also worth noting that last year, the company reported positive top-line results from the GENESIS trial, with the study meeting all primary and secondary endpoints. In Tuesday’s update, CEO Philip Serlin explained that “Motixafortide, if approved, has the potential to become the standard-of-care mobilization therapy for all multiple myeloma patients undergoing autologous stem cell transplantation.”
Kosmos Energy (NYSE:KOS)
Energy stocks have been red hot lately, and Kosmos is no different. Shares of the oil and gas company reached fresh 52-week highs last week before the long weekend. Starting this new, shortened week, the bullishness has continued for energy as KOS stock broke above its 52-week highs during premarket trading.
Why Is KOS Stock Moving?
In addition to the sector momentum, news from Kosmos has helped give a boost as well. The company announced that it had completed drilling its Winterfell-2 well in the Gulf of Mexico. Andrew G. Inglis, Kosmos Energy’s chairman and chief executive officer, said, “The positive result from Winterfell-2 appraisal well demonstrates the greater potential in the Winterfell area. The well results are encouraging and provide the support needed to advance a low-cost, lower-carbon development scheme that could be brought online in around two years.”
What To Watch With KOS Stock
With sector momentum and news as a backdrop, KOS stock could be riding a wave at the start of the week. Furthermore, analysts at Goldman Sachs raised their price target on the penny stock to $7.50 from $5. The firm also maintains a Buy rating.
NRx Pharmaceuticals (NASDAQ: NRXP)
Like BLRX, NRx Pharmaceuticals has come under pressure recently. However, the latest updates from the company have at least brought some added attention to the penny stock. In particular, the company’s Zyesami (aviptadil) has become a focal point. This is NRx’s candidate linked to treatments for patients at immediate risk of death from COVID-19.
Why Is NRXP Stock Moving?
Shares of NRXP stock took off early during Tuesday’s premarket session, thanks to news on Zyesami. Specifically, the company reported that the phase 3 drug had enhanced its Expanded Access and Right to Try programs. These allow patients with respiratory failure due to COVID-19 to receive Zyesami with a prescription.
“We will continue to increase production to meet the demand to offer one last option to patients who have exhausted all currently approved therapies,” said Prof. Jonathan C. Javitt, MD, MPH, CEO and Chairman of NRx Pharmaceuticals.
What To Watch With NRXP Stock
It’s also worth noting that NRx has other pipeline treatment candidates. Its BriLife investigational vaccine is being studied as a booster to protect against COVID variants, including Omicron. The company was contacted by reps from the US Department of Health and Human Services and “several” European Governments requesting a presentation of Omicron findings last month. NRx expects commercial-scale manufacture by Q4 of this year.
22nd Century Group (NASDAQ: XXII)
Shares of 22nd Century pulled back a bit after the company’s big update last month. It reported receiving FDA marketing authorization for its VLN King and VLN Menthol King combusted cigarettes as “modified risk” tobacco products. Based on the results, the company said it is prepared to launch its VLN line in retail markets in the U.S in the first quarter of 2022.
Why Is XXII Stock Moving?
Following some profit-taking since that headline, this week starts anew. 22nd Century has come out with even more news on its planned launch of VLN products, including specific dates for bringing them to market. The company said it would start its first major metropolitan markets by March. What’s more, 22nd Century states that it plans to update about the launch’s progress in the “coming weeks.”
What To Watch With XXII Stock
With pending updates to look for, XXII stock could be on the radar of some traders. 22nd Century also discussed the potential for licensing its technology to strategic partners to increase availbity.
NeuroMetrix Inc. (NASDAQ: NURO)
New life was breathed back into NeuroMetrix at the start of the week. This comes after weeks of things being extremely quiet. NeuroMetrix was one of the popular penny stocks last year after shares surged from under $4 to highs of $38.75. The big move came after the company announced receipt of FDA Breakthrough Device Designation for treating fibromyalgia.
Specifically, its Quell device garnered the interest of the stock market today. The device is non-invasive and a nerve stimulator covered by 18 U.S. utility patents. This Breakthrough Device Program aimed to help patients gain quicker access to technologies like Quell that could provide more effective treatments. Since then, things have been incredibly quiet.
Why Is NURO Stock Moving?
This morning, NeuroMetrix announced another big FDA update. The company received breakthrough Device Designation for Quell in reducing severe symptoms of chemotherapy-induced peripheral neuropathy presenting for at least six months. Shai N. Gozani, M.D., Ph.D., CEO of NeuroMetrix, said, “We are looking forward to completion and subsequent reporting of the results from the ongoing multi-center RCT of Quell in CIPN. Depending on the outcome of the trial, we hope to be positioned for an FDA filing in 2023.”
What To Watch With NURO Stock
Once again, this is a news-triggered move during premarket trading. Considering that NURO is also a low float penny stock , volatility could be a factor.
Penny Stocks To Watch Today
Whether it’s news, filings, or various other catalysts, there are plenty of penny stocks to watch today. Understanding why certain stocks are on the move is the first step in putting together your watch list. These are a few of the hot names in the stock market today and why they’ve turned heads early on Tuesday.
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