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Penny Stocks To Watch After News
If there’s one thing that can trigger a rally in penny stocks, it’s news. Whether it comes from a major industry leader or the company itself, penny stock news can become a big factor in breakouts or break downs. In fact, many times you’ll see certain stocks make a huge price shift following a new SEC filing or even after a company rep was featured in an interview.
No matter the case, the important part is to always be on the lookout for things like this. Though we’ll never know the news before it comes out, being ready to translate and act involves timing. Furthermore, when there’s news, there’s also speculation.
Take certain biotech stocks for example. Earlier this week we released the article, “4 Penny Stocks To Watch Expecting Key Data Soon,” we pinpointed a few companies that previously announced upcoming developments. Come to find out, several of those penny stocks ended up rallying big so far this week just on anticipation of results, alone. With this in mind, some of the names on this list of penny stocks have reported new milestones and may be worth a closer look.
Biotech Penny Stocks To Watch #1: Hepion Pharmaceuticals
First, on this list of penny stocks, Hepion Pharmaceuticals (HEPA – Free Report) is likely to be one of the top names to watch on January 29. How could I possibly know this? Well, I don’t. But what I can say is the news that was released seems to have triggered a big move in its stock.
After the closing bell on Tuesday, Hepion announced positive data from a study with human precision-cut liver slices. The company’s NASH drug candidate, CRV431, demonstrated superior “antifibrotic” efficacy in the study. A previous Phase 1 study of the treatment showed that CRV431 was safe and well-tolerated in humans.
“Combining the direct antifibrotic actions of CRV431 with the indirect actions of other drug candidates likely represents the best opportunity for rapidly and effectively decreasing liver fibrosis in NASH.”
Dr. Robert Foster, CEO of Hepion Pharmaceuticals
For those who read PennyStocks.com frequently, HEPA stock is familiar. We’ve been covering the biotech penny stock since October. At the time, shares traded around $3.00 (see: 3 Robinhood Penny Stocks to Watch On October 18th). But as you can see, Hepion has managed to execute on several milestones, which translated favorably in the market.
Biotech Penny Stocks To Watch #2 InspireMD
Another one of the names to add to this list of penny stocks in InspireMD (NSPR – Free Report). It was one of the companies we had watched earlier this month and momentum has continued to surge. During the first week of the month, InspireMD reported strong preliminary Q4 2019 revenue. It also reported an inducement grant to the company’s new CEO.
This week, InspireMD has gained ground once again after a big update. The company announced that its CGuard embolic prevention system would be featured in a live case transmission. It was at the Leipzig Interventional Course 2020 on January 28. Based on the reaction in the market on Tuesday, it will be interesting to see if the company has a follow-up to this event.
Biotech Penny Stocks To Watch #3: Conatus Pharmaceuticals Inc.
Next, Conatus Pharmaceuticals Inc. (CNAT – Free Report) caught some strong trading momentum during the regular session on Tuesday. Around the closing bell, shares of Conatus were halted pending news. This can be a very stressful time for anyone holding shares. Obviously news can be good or bad with the resulting response seen in the market.
The company updated its newsfeed shortly after with a big announcement. The company and Histogen entered into a definitive merger agreement. Based on specifics of the deal, the company will change its name to Histogen Inc. and trade under a new ticker symbol. Essentially this merger creates a regenerative medicine company with 3 clinical-stage product candidates. As a result of the specific deal, current Conatus stockholders will collectively own approximately 26%.
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“This merger is transformative for Histogen as we look to advance our novel regenerative medicine pipeline,” said Richard Pascoe, Chairman, and CEO of Histogen. “We believe the target product profile of our product candidates combined with their market potential provides an opportunity for Histogen to become a leader in the aesthetics and orthopedic medicine markets.”
Biotech Penny Stocks To Watch #4: Acasti Pharmaceuticals
Finally, Acasti Pharmaceuticals (ACST – Free Report) had a strong showing on Tuesday with much of the momentum coming later in the day. Shares of the company fell off of a cliff earlier this month. It came as the company reported that it missed its primary endpoint in a Phase 3 Trial. This was a trial of its CaPre product candidate. Since then, shares continued to slide up until January 28.
Something to keep in mind are the fine details of the news. Though the main topic of a press release may be one thing, the contents could be another. What I mean by this is that a company may discuss the main “headline” but could also give additional information. With Acasti, a statement from Dariush Mozaffarian, M.D., Dr.P.H. cited that he was “hopeful that TRILOGY 2 topline data, expected in late January 2020, may provide more insight into this unprecedented placebo response seen in TRILOGY 1.”
Since there were no updates since the 13th and it’s currently the “end of January,” this could be that “speculation” I was talking about earlier. In any case, ACST stock saw its first green day in 2 weeks, on Tuesday. Will Acasti report data as expected or is this just a head-fake during a longer-term downtrend?