3 Trending Penny Stocks to Add to Your Watchlist Right Now
If you’re looking for trending penny stocks to buy, there are hundreds to choose from. As a result of the sheer amount of momentum in the stock market right now, investors can find penny stocks that have the potential to aid in profitability. Because there are so many penny stocks on the long list, investors need to be careful in their research and find ones that fit their portfolio the best.
To have the best chance of profitability, traders also need to have a thorough understanding of what is going on in the stock market. Right now, the largest contributing factor to stock market movement is undoubtedly, the pandemic. Specifically, this includes the Omicron variant which has risen to infamy in the past month or so. In the past few trading days, shares of many stocks and several major indexes have dropped significantly in response to the rise of this variant.
But, as time goes on, Omicron is showing itself to be less severe and more transmissible. This has helped to bring many biotech penny stocks up in value while entertainment and travel stocks have dropped significantly. So, as we wait for the end of the year, there are hundreds of penny stocks that could be worth watching as the market continues its volatile streak. With that in mind, let’s take a look at three to add to your watchlist right now.
Trending Penny Stocks to Watch Right Now
- Petros Pharmaceuticals Inc. (NASDAQ: PTPI)
- Jaguar Health Inc. (NASDAQ: JAGX)
- Galera Therapeutics Inc. (NASDAQ: GRTX)
Petros Pharmaceuticals Inc. (NASDAQ: PTPI)
One of the biggest gainers of the day so far by 12 PM EST is PTPI stock. By that time, shares of PTPI stock had shot up by over 30% to $4.40 per share. This brings its five-day gain to over 65% and its one-month gain to a staggering 234%. While gains like this are not unheard of, they are interesting to keep an eye on. The main reason for the rise of PTPI stock today is its placement as a short squeeze stock.
While institutional holdings in the company are relatively bearish, the short squeeze potential for the company has resulted in a major boost in value. We’ve seen this happen several times in the past few months with similar stocks such as GME stock and AMC stock. Beyond this, it’s worth discussing what Petros Pharmaceuticals does. Only a week or two ago, the company announced positive results for the OTC labeling study of its erectile dysfunction drug known as Stendra (avanafil).
“The label comprehension study is a key component of our plans to help expand access for STENDRA beyond the prescription model, and to make STENDRA potentially the first prescription-grade ED medication to become available over-the-counter in the United States.
While the process of gathering data to be shared with the U.S. Food and Drug Administration (FDA) continues, we are enthusiastic about our progress toward providing new hope for the millions of men suffering from this condition.”The President and CEO of Petros, Fady Boctor
Considering all of this, do you think that Petros Pharmaceuticals is worth adding to your list of penny stocks to watch?
Jaguar Health Inc. (NASDAQ: JAGX)
One of the more trending penny stocks that investors have been watching is Jaguar Health. Today, shares of JAGX stock jumped up by a staggering 38%, bringing its five-day gain to over 41%. The main reason behind this gain came today as the company announced a new application for conditional approval of its Canalevia-CA1 Crofelemer tablets for dogs. This is a big deal and shows that the company is working hard to continue growing in the face of adversity.
Additionally, yesterday, the company made another exciting announcement. On December 20th, the company stated that its subsidiary, Napo EU, changed its name to Napo Therapeutics to focus on both rare and orphan drugs. While this is mostly symbolic, it does reflect the future of the company.
“Our mission at Napo Therapeutics is to provide access to Jaguar Health’s proprietary first-in-class plant-based medicine crofelemer in Europe to address significant rare disease indications – and our initial focus is on clinical development and future registration in Europe of crofelemer for two debilitating orphan target indications: Short bowel syndrome with intestinal failure (SBS-IF) and congenital diarrheal disorders (CDD).”The General Manager of Napo Therapeutics, Massimo Mineo
As a result of these big announcements, we see that it makes sense why shares of JAGX stock jumped so substantially today. With that in mind, will JAGX stock be on your watchlist moving forward?
Galera Therapeutics Inc. (NASDAQ: GRTX)
As far as decent gainers go for the day, shares of GRTX stock jumped up by a respectable 9% or so by midday. This caps off its five day and one month gain of 30% and 188% respectively. These are very large jumps and reflect the major bullish sentiment that sits with GRTX stock right now.
The main reason for this gain comes as the company announced ‘corrected’ study results for its lead drug candidate. This concerns its Phase 3 ROMAN trial of avasopenem for RT-induced severe oral mucositis in those with advanced head and neck cancer. The corrected data shows that the drug achieved very significant results regarding the primary endpoint in the amount of SOM reduced.
“Given the high unmet medical need for patients with head and neck cancer who develop radiotherapy-induced severe oral mucositis, we are gratified that the Phase 3 ROMAN trial achieved statistical significance on the primary endpoint after the correction of the statistical programming error.”The CEO of Galera, Mel Sorensen, M.D.
With the major emphasis on biotech penny stocks right now, this is an exciting piece of news to consider. With that in mind, does GRTX stock deserve a spot on your list of penny stocks to buy?
Which Penny Stocks Are On Your Watchlist Right Now?
If you’re looking for the best penny stocks to buy, there are plenty to choose from. As a result of the sheer amount of momentum in the stock market, investors need to have a thorough understanding of what’s going on and how to take advantage.
Considering all of this, do you think that these penny stocks are worth adding to your watchlist right now?
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