Penny Stocks to Watch as 2021 Comes to an End
As 2021 comes to an end, investors continue to search for the best penny stocks to buy. Although it can be challenging given the sheer number of penny stocks out there and factors at play, there are many ways to make money with small caps.
The best way to get started is to have a thorough and consistent understanding of what is going on in the stock market. This includes knowing how different news events will impact your portfolio and the various industries at large.
It is also crucial to understand that penny stocks are highly volatile. With the Omicron variant, high inflation, and geopolitical upsets, there is a lot at play with penny stocks and blue chips. So, with all of this in mind, let’s take a look at five penny stocks to add to your holiday watch list.
Penny Stocks To Watch
- OPKO Health Inc. (NASDAQ: OPK)
- Mereo BioPharma Group plc (NASDAQ: MREO)
- Progenity Inc. (NASDAQ: PROG)
- Can-Fite BioPharma Ltd (NYSE: CANF)
- Digital Ally Inc. (NASDAQ: DGLY)
OPKO Health Inc. (NASDAQ: OPK)
OPKO Health Inc. is a biotech firm that specializes in diagnostics and medications. BioReference Laboratories, a subsidiary of the company, provides lab testing services, a complementary business. The company works on diagnosing, detecting, evaluating, and monitoring an extensive range of diseases. Aside from this side of its business, the company is studying OPK88004, an orally given selective androgen receptor modulator, and several other compounds.
On December 8th, OPKO received approval from the FDA for its 4Kscore test. This is a test used in men aged 45 and older who haven’t had a prior prostate biopsy or are biopsy negative and have an age-specific abnormal total PSA or abnormal digital rectal exam. This test is currently available at BioReference Laboratories, which, as mentioned earlier, is owned by OPKO.
“The 4Kscore Test has been available as a Laboratory Developed Test (LDT) since 2014. The FDA approval provides further validation of its value as an important tool in the diagnostic paradigm for prostate cancer”.
The Executive Chairman of BioReference Laboratories Inc., Jon R. Cohen
Heading into the end of the year, there is some quick housekeeping to be aware of. In particular, this October, Opko reported an update that cited data from its RAYALDEE candidate for treating mild-to-moderate COVID-19. Phase 2 trial enrollment was completed, and the company expects topline data by the end of the year. Considering the period of the year we’re in, this could be something to keep in mind if OPK stock is on your list of penny stocks right now.
Mereo BioPharma Group plc (NASDAQ: MREO)
Another one of the penny stocks to watch during year-end is Mereo BioPharma. The company specializes in treating cancer and rare diseases. Its Alvelestat treatment platform will likely be a focus for traders right now. This is Mereo’s candidate under evaluation in patients with Alpha-1 antitrypsin deficiency and patients with COVID-19. Since new virus variants have become a very prominent topic in the stock market this month, MREO stock could be on the list.
What’s there to look at when it comes to its Alvelestat treatment? In March, the company gave a heads-up that year-end could be an important time for the company. That’s first because the company initiated a Phase 1 study for the treatment of COVID-19 and data expected during the second half of 2021. Second, there is an ongoing Phase 2 trial in 165 patients with AATD that has data anticipated in late 2021. In light of the time of the year we’re in right now, these could be things to keep in mind.
Last week Mereo presented at the American Society of Hematology (ASH) Annual Meeting. The Alvelestat platform was once again the focus. This time, data was presented on alvelestat in patients with Bronchiolitis Obliterans Syndrome. With a solid finish to the week and a countdown to year-end, MREO stock could be another one of the names to know right now.
Progenity Inc. (NASDAQ: PROG)
Progenity Inc. is a molecular testing company that creates many biotech-related products. The company recently received recognition for its COVID-19 PCR testing services, which have been in high demand for the past two years. In addition, it’s worth noting that any biotech company involved in Covid has seen heightened attention during that time. For some context, Progenity also sells genetic testing for disorders like Lynch syndrome.
Progenity disclosed a new invention for a single-molecule detecting treatment on December 2nd. This was revealed in the form of US Patent No. 11,186,863 for “Methods, Systems, and Compositions for Counting Nucleic Acid Molecules.” This patent contains important methods for counting target molecules, eliminating the requirement for sequencing them.
Progenity now has a significant patent portfolio relating to its single-molecule detection platform, which has contributed to its overall success. This consists of six patent families that cover various areas of its programs.
“Our Single-Molecule Detection Platform is designed to enable tests such as noninvasive prenatal testing (NIPT) or liquid biopsy for cancer to be performed without the need for costly, complex sequencing, which would greatly reduce cost and simplify operational implementation.”
General Manager of Diagnostics at Progenity, Matthew Cooper
With sizable bullish momentum in the past few weeks, will PROG make your list of penny stocks to watch?
Can-Fite BioPharma Ltd (NYSE:CANF)
Shares of Can-Fite BioPharma climbed last week after a tumultuous few months of selling pressure. It was steadily dropping since mid-summer and finally reached fresh 52-week lows of $0.94 earlier this month.
Heading into the end of 2021 and the start of the new year, there are plenty of things to keep track of. As far as this month goes, Can-Fite’s Phase IIb study of its NASH drug candidate Namodenoson will be in focus. In particular, following clearance from the Israeli Ministry of Health, the company expects start begin in Q4 2021. This is the next portion in studying Namodenoson. A prior Phase IIa clinical trial of Namodenoson in the treatment of NASH met study endpoints showing anti-steatotic, anti-inflammatory, and anti-fibrotic effects.
Can-Fite’s Piclidenoson, its lead drug candidate, will be the next treatment to keep track of. This year, the company completed enrollment in a Phase 3 psoriasis study and expects topline results next quarter. According to Can-Fite, ‘The study is designed to establish Piclidenoson’s superiority compared to placebo and non-inferiority compared to Apremilast (Otezla®) in patients with moderate to severe plaque psoriasis.”
With these potential catalysts, CANF stock could be another one of the names for your list of penny stocks to watch right now.
Digital Ally Inc. (NASDAQ: DGLY)
Digital Ally Inc. develops digital video imaging software, digital storage solutions, disinfectants, and other safety products. These products are used by law enforcement, security, and commercial purposes in the United States. One of its products is a digital video mirror system used in police vehicles.
On November 17th, the corporation released its operating results for the third quarter of 2021. In the third quarter, overall revenues increased by 29% to $4,639,822 from $3,588,640 the previous year. This was achieved due to a 421% increase in services and other income from 2020 levels. These numbers are substantial and show sizable growth for the company.
On December 13th, Digital Ally provided another update. The company announced that it had launched the FirstVu PRO body-worm camera. This is the latest addition to Digital Ally’s family of next-gen technology. The company is now taking pre-orders and expects to start shipping the product in the first quarter of 2022.
“We believe the unique features of the PRO, like live streaming and remote activation, will be highly embraced and will prove to be invaluable for law enforcement.”
The CEO of Digital Ally, Stan Ross
Right now, the tech industry continues to heat up as more and more investors take note. If we look at DGLY’s chart, we see that its yearly performance is mostly bearish to date. However, in the last few trading days, shares of the company have begun to trend upward. Amid the company’s new developments, will DGLY be on your penny stock watch list before December ends?
Which Penny Stocks Are You Watching?
Finding the best penny stocks to buy is about understanding where to look. Although there are hundreds of penny stocks out there, not all of them will have value in the future.
The best way to understand this as it pertains to your portfolio is to have a consistent trading strategy that fits your risk tolerance. This should also be in line with how the market is moving. With all of that considered, which penny stocks are you watching right now?
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