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This story originally appeared on PennyStocks
Penny Stocks To Watch For June
Trading penny stocks is something that millions of people do daily. But it’s isn’t something that everyone has been able to master. Best-known for their high-flying moves in price, the “land of cheap stocks” is more frequently compared to the Wild West of the market. However, since the 2020 pandemic, the dynamic of how traders approach the markets has changed.
Thanks to stay-at-home orders, lockdown, furloughs, and complete closures of numerous businesses, people were stuck at home trying to find new ways to make money. Penny stocks have been one of the benefactors of this early “stay-at-home trend,” with the retail community growing by the millions.
Apps like Webull and Robinhood have grown in popularity. In fact, if you look at some of the penny stock brokerage growth stats of 2020, Robinhood, in particular, took the crown for growing the quickest. Even in light of major technical glitches and questionable practices, the retail trading army lead by Redditors has made its choice.
Penny Stocks To Watch For June 2021
In this article, we’ll take a look at a few biotech penny stocks to watch for June. Why could they be on traders’ lists? In short, all penny stocks on this list have upcoming dates in June to keep track of, and we know this from looking back at old news and updates.
This is one of the beauties of looking at biotech as an industry of interest. We’ll often see companies giving updates on pending FDA decisions, industry presentations, and other future events that could lead to volatility in the stock market.
Here are a few names for your list of penny stocks to watch with upcoming potential catalyst dates this month:
Penny Stocks To Watch #1: Fortress Biotech (NASDAQ: FBIO)
Shares of Fortress Biotech have enjoyed a relatively consistent uptrend over the last 18 months. At the start of 2020, FBIO stock opened at $2.59. By the start of 2021, the biotech penny stock began the year trading around $3.20. Heading into the new month of June, shares are hovering around $4. Between the start of 2020 and now, FBIO has, of course, seen several big pops and drops. Relatively speaking, the uptrend is clear.
One of the high points for the company is its diverse exposure to the biotech industry as a whole. Many of its related companies were founded by Fortress and now trade publicly themselves. We’ll talk about this more later in the article. When it comes to June, Fortress has a few things in the works that could become focal points for traders. In fact, the company itself doesn’t have updates coming, per se, but two of its related names do.
The first is Fortress-founded Caelum Biosciences. The company, along with Alexion Pharmaceuticals (NASDAQ: ALXN), presents two abstracts accepted for poster presentation at the European Hematology Association Congress 2021 (EHA2021). While the Congress takes place between June 9th and 17th, Caelum’s poster presentation will be made available on June 11th.
The focus of the poster is on the company’s amyloid fibril therapy, CAEL-101. The treatment is currently enrolled in a Cardiac Amyloid Reaching for Extended Survival or CARES Phase 3 clinical program. It will evaluate CAEL-101 combined with the current standard of care in AL Amyloidosis. So the details revealed next week could be important if FBIO or even ALXN is on your list of stocks to watch in June.
2. Mustang Bio (NASDAQ: MBIO)
Coincidentally, the second potential catalyst event for FBIO comes as Mustang Bio is set to present data. Last month, the company announced that it would be delivering interim data from its ongoing Phase 1/2 trial for its targeted CAR T treatment candidate, MB-106. The trial is studying the impact of the drug candidate on high-risk B-cell non-Hodgkin lymphomas and chronic lymphocytic leukemia.
Similar to Caelum, Mustang will also be in attendance at the EHA2021. Mustang’s trial data was chosen for a poster presentation, which will get posted on June 11th. MB-106 is being developed in a collaboration between Mustang and Fred Hutchinson Cancer Research Center.
If you’re looking for some insight on how MB-106 has performed so far, Management comments from CEO Manuel Litchman, M.D. might be of interest. In a May press release, he explained, “The data thus far indicate that MB-106 has a highly favorable safety profile at all dose levels when compared to commercially available CAR T cell therapies targeting CD19. We look forward to the continued progression of this CD20-targeted CAR T cell therapy program for patients with relapsed or refractory B-cell non-Hodgkin lymphomas and CLL.”
3. Aptose Biosciences (NASDAQ: APTO)
While Aptose has nothing to do with Fortress, it has multiple upcoming data readouts this month. The company will give an update for each of its clinical trials at the 2021 EHA Virtual Congress. Next week, Aptose presents posters on its CG-806 and APTO-253 treatment candidates on June 11th. Concurrently, the company has scheduled a corporate update to be scheduled the same day.
Available clinical data will be given on CG-806 (luxeptinib), Aptose’s oral FLT3, and BTK kinase inhibitor, which is in two Phase 1 a/b trials. One trial is in patients with relapsed or refractory acute myeloid leukemia (AML), and another is in patients with relapsed or refractory B cell malignancies. Its APTO-253, a small molecule MYC repressor, will give data as well. APTO is in a Phase 1 a/b trial in patients with relapsed or refractory AML or high-risk myelodysplastic syndromes (MDS).
CEO William G. Rice, Ph.D., gave some brief insight into the current progress in its CG-806 trials last month. In Aptose’s Q1 update, Rice said, “In our ongoing Phase 1 a/b clinical trials with luxeptinib (formerly CG-806), we are encouraged by indicators of target engagement and anti-cancer activity, as well as a safety and tolerability profile that has allowed us to continue dose escalations.”
Heading into the next week of June, it will be interesting to see what, if any, new details emerge and how the market reacts. If APTO is on your list of penny stocks to watch, June 11th is a date you’ll want to keep in mind.
4. Regulus Therapeutics (NASDAQ: RGLS)
On the lighter-volume side of things, Regulus may be down in 2021 but not out (yet). Shares took a hit during the end of Q1 and early Q2. This came after the company announced top-line data from the first cohort of a Phase 1b trial of its RGLS4326 for treating Autosomal dominant polycystic kidney disease (ADPKD). The company reported a mixed bag of data on the cohort, which led to a sell-off in the market.
Since reaching lows around $0.80 last month, RGLS stock has managed to recover. Now it could come down to what happens this month. However, instead of the upcoming week, traders will need to wait a little longer for details. Last month the company said additional data from the first cohort would be presented at the PKD Connect. Since the conference doesn’t begin until June 25th, a few weeks of speculation could become a focus.
Despite mixed results earlier this year, treatment with RGLS4326 was said to be generally well-tolerated. The company also explained that no serious adverse events were reported. In an incremental update late last month said Jay Hagan, CEO of Regulus, said, “As previously reported, the ninth and final patient was trending well at the end of the dosing period and saw their polycystin levels continue to rise until study completion, twenty-eight days after the last dose. This pattern was generally consistent across the first cohort and further enhanced the overall mean changes from baseline for both biomarkers.”
We’ll see what the additional data reveals later in June. If RGLS stock is on your list, keep June 25th in mind.
What Do Analysts Think Of These Penny Stocks?
While they shouldn’t be the only thing used, analyst sentiment can be helpful when researching companies. In this case, all penny stocks on this list have received recent analyst ratings. With the understanding of what’s to come, let us know in the comments whether or not you agree with their outlook & if you’re going to be trading penny stocks in June:
|Company||Analyst Firm||Rating||Price Target|
|Fortress Biotech (FBIO Report)||B. Riley||BUY||$9|
|Mustang Bio (MBIO Report)||BTIG Research||BUY||$11|
|Aptose Biosciences (APTO Report)||Oppenheimer||OUTPERFORM||$9|
|Regulus Therapeutics (RGLS Report)||HC Wainwright||BUY||$2|