Top Biotech Penny Stocks to Watch — April 21, 2021

Time Stamp: April 20, 2021 11:05 PM
Source Node: 831568

The overall markets are slowing down this week’s biotech penny stock action. 

They were all in the red to start the first two days of the week. But I still made some good trades while trading safely.

You must know when to push it and when to be more conservative in your trades. The ugly overall markets are muting spikes and bounces. So adapt your trading plans accordingly.

While some of the stocks on this week’s watchlist aren’t moving big right now, all it takes is a BS press release to spark some action. Be ready.

These sketchy stocks run on speculation and hype. So I’m watching them for potential catalysts with huge volume.

As always, I won’t force trades. I’m committed to staying focused on my best setups.

I’m taking profits quickly and cutting losses even quicker. Adjust your expectations for every trade. Go for singles, not home runs.

Here’s the top biotech penny stocks list … I’ll show you what’s on my radar and why.

Table of Contents

Top Biotech Penny Stocks to Watch

These are the top stocks on my watchlist. ‘Watch’ is the key word here. There’s no guarantee that there’ll be a trading opportunity. Remember, these stocks move FAST.

Before we get to my list of stocks to watch, here are a few of my top resources for penny stocks…

How do I find hot stocks? I use StocksToTrade every day. For me, it’s the best tool because I helped design it specifically for trading penny stocks. (I’m also an investor.) It has awesome charts, built-in scans, social media feeds, and so much more to help you do your research.

And its Breaking News Chat add-on feature is a game-changer in this hot market. It helped me make record profits in 2020.* Get a StockToTrade 14-day trial for only $7…

Or try it with the Breaking News Chat for only $17!

(*Please note: My results are far from typical. Individual results will vary. Most traders lose money. I have the benefit of years of hard work, dedication, and experience. Trading is inherently risky. Do your due diligence and never risk more than you can afford to lose.)

Now, let’s get to the top biotech penny stocks to watch this week…

Biotech Penny Stocks #1: Galectin Therapeutics Inc. (NASDAQ: GALT)

On Monday, GALT announced a world-renowned neurosurgeon joined the company as a consultant to develop its treatment for liver diseases and cancer.

Read the full press release here.

The stock has a history of one-day spikes. I’ll watch for dip-buying opportunities only and take singles.

Biotech Penny Stocks #2: Enzolytics Inc. (OTCPK: ENZC)

On Monday, ENZC provided an update on the company’s platforms and initiatives.

“We continue to make great strides in the application of our multiple platforms for production of therapeutics for treating infectious diseases. Our future success will follow as we meet our goals to bring these therapeutics to market with new developments made possible by our extensive platform for producing new and effective therapies.”

Read the full press release here.

The daily chart looks like a #7 from my pennystocking framework — the long kiss goodnight. But intraday it could offer dip-buying opportunities. Monday afternoon the stock spiked from roughly 10 cents to 13 cents at the close.

Get my “Pennystocking Framework” DVD as a bonus when you get my 30-Day Bootcamp.

Biotech Penny Stocks #3: Seneca Biopharma, Inc. (NASDAQ: SNCA)

On Monday, SNCA shareholders were updated on the upcoming reverse stock split and merger with another company. The next special meeting is scheduled for April 23.

Read the full press release here.

When the merger is closed the company will trade under the Nasdaq ticker PALI.

The reverse split means the stock will have a lower float. It could become more volatile, especially with high volume.

Biotech Penny Stocks #4: OpGen, Inc. (NASDAQ: OPGN)

On Monday OPGN announced it extended its partnership with the New York State Department of Health.

The strategic collaboration is working “to develop a state-of-the-art solution to detect, track, and manage antimicrobial-resistant infections at healthcare institutions statewide.”

Read the full press release here.

The stock’s a former spiker but doesn’t hold its highs. I’ll watch for high volume to come in for a potential volatile move. But I’ll aim for singles.

Biotech Penny Stocks #5: Todos Medical Ltd. (OTCQB: TOMDF)

TOMDF is on the watchlist for the second straight week. Last week it was running on momentum from news about its patent application. I was watching the stock for a breakout over $0.064. But I wanted more volume and a catalyst.

On Monday the company announced it dosed the first patients in its Phase 2 clinical trial. The company is testing its COVID-19 inhibitor in hospitalized patients.

Read the full press release here.

This could be the catalyst the stock needs to move higher. I’ll continue to watch for a breakout over $0.064.

Biotech Penny Stocks #6: Regen BioPharma, Inc. (OTCPK: RGBP)

RGBP’s run started after it announced a licensing agreement for its pancreatic cancer treatment on April 8.

I’ve traded it a few times in the last two weeks. (See all my RGBP trades here.)* It’s down off its highs but it’s still trading high volume. I’ll watch for a #5 dip buy opportunity straight out of my 7-step framework.

(*Please note that these kinds of trading results are not typical and do not reflect the experience of the majority of individuals using our products. From January 1, 2020, to December 31, 2020, typical users of the products and services offered by this website reported earning, on average, an estimated $49.91 in profit. This figure is taken from tracking user accounts on Profit.ly, a trading community platform. It takes years of dedication, hard work, and discipline to learn how to trade. Individual results will vary. Trading is inherently risky. Before making any trades, remember to do your due diligence and never risk more than you can afford to lose.)

Biotech Penny Stocks #7: Hoth Therapeutics, Inc. (NASDAQ: HOTH)

Yesterday HOTH announced preclinical data shows its anti-cancer therapy reduces cancer growth.

“These findings show that the novel anti-cancer therapeutic rapidly induces apoptosis and cell death in neoplastic mast cells.”

Read the full press release here.

The stock had a huge gap up following the news but faded. I’ll watch for it to find support for a potential dip-buy opportunity.

Biotech Penny Stocks #8: Tiziana Life Sciences PLC (NASDAQ: TLSA)

On Monday, a Zacks analyst began coverage on TLSA with a price target of $7.50.

The stock traded higher than average volume and went from $2.55 to $3.25 following the news. It has a history of one-and-done spikes. I’ll watch it for a break above $3.30 resistance. But I’ll go for singles if I trade this stock.

Biotech Penny Stocks #9: Akari Therapeutics, Plc (NASDAQ: AKTX)

AKTX is another stock returning to the watchlist. Last week I was watching for the stock to find support and bounce. The stock consolidated above $2 for about four days before bouncing on Monday.

That was its first green day. I’m watching the stock for it to continue its upward momentum with a multi-day breakout over $2.50.

(Past performance is not indicative of future returns.)

Biotech Penny Stocks #10: Daré Bioscience, Inc. (NASDAQ: DARE)

DARE is another stock that had its first green day yesterday. On Monday it announced it appointed a new director to its board.

This is another stock trading lower volume than I like to see. But it’s a former runner so I’ll watch for it to gain momentum. Ideally, I want to see high volume and a strong catalyst.

Get the List of Penny Stocks I’m Watching Delivered to Your Inbox

Want to know which stocks I’m watching each week? Subscribe to my no-cost watchlist. I’ll send my top penny stocks to watch right to your inbox every week. It can help you learn the process I follow for every stock.

penny stock checklist

I’ll say it again … The stocks on my watchlist aren’t an automatic buy. Remember to do your own due diligence and research. If you’re trading without a trading plan, you’re gambling. Don’t be a degenerate gambler — trade smart!

👉🏼 SUBSCRIBE to my no-cost weekly stock watchlist here.

Conclusion

Biotech penny stocks are stocks of small, developmental companies. These companies are usually desperate for cash. They need it to continue developing products and for testing and trials. Trade them with caution…

They’re known to be extremely volatile. They can have huge price swings. One minute they’re flying high on positive news — the next they’re down due to bad trial results, side effects, or stock dilution.

If you’re prepared to take advantage of the price swings, these stocks can offer great trading opportunities…

In my Trading Challenge chat room, my students and I talk about the hottest penny stocks. And many top traders who got their start in the Challenge are now chat moderators who answer questions and help out new students.

If you want to join a community of top traders, apply for my Trading Challenge. I don’t accept everyone. I only want the most dedicated students who are willing to put in the time and effort it takes to become my next top student. Could it be you?

What do you think of these biotech penny stocks to watch? Let me know in the comments … I love to hear from you! 

Source: https://www.timothysykes.com/blog/biotech-penny-stocks/

Time Stamp:

More from Timothy Sykes