Investors are almost always on the lookout for the latest penny stock gainers, but in the current situation, they need to look into companies far more carefully than before. The coronavirus pandemic has triggered an economic crisis of sorts that has not been seen in decades and is wreaking havoc on the markets. However, despite the continued weakness, there have been penny stock gainers on almost every other trading day.
This morning, the Dow Jones Industrial Average jumped by 550 points, starting a cautious rebound from last week’s abysmal lows. The gains recorded by the market this morning have thrown up some penny stocks potentially worth checking out. Here are 5 penny stock gainers for today:
5 Biotech Penny Stock Gainers on the Radar: Plus Therapeutics (NASDAQ:PSTV)
One of the major penny stock gainers this morning is Plus Therapeutics stock. PSTV stock made significant gains this morning after the company announced that it has managed to in-license a cancer medicine product from NanoTx Therapeutics, a radiotherapeutic firm based in Texas.
PSTV stock has gained 72% in early morning trade, and it seems likely that the stock is going to continue being in focus today. Plus paid $300,000 upfront and also provided voting stock worth $400,000 for the deal. NanoTx stands to earn as much as $136.5 million in the form of milestone payments.
5 Biotech Penny Stock Gainers on the Radar: Athersys (NASDAQ:ATHX)
Athersys stock is on the move this morning after it emerged that its Japanese partner, HEALIOS K.K., decided to exercise its warrants in entirety in order to acquire more shares of the company. HEALIOS acquired 4,000,000 shares in Athersys for $1.76 per share.
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The share acquisition is in line with the terms of the warrant that had been purchased by HEALIOS. The transaction reflects an additional investment of $7,040,000 in Athersys. ATHX stock has gained 16% to $2.28 in early trade this morning, but it remains to be seen if it can further extend these gains.
5 Biotech Penny Stock Gainers on the Radar: Pluristem Therapeutics (NASDAQ:PSTI)
The coronavirus pandemic has thrown up plenty of penny stock gainers over the past weeks, and the latest one to enter the fray is the Pluristem Therapeutics stock. Pluristem announced this morning that it has treated a total of three coronavirus patients in two different hospitals in Israel.
The company received permission to administer its treatment under the compassionate use program. More importantly, it has also emerged that more patients are going to be enrolled in the days to come. This development could have far-reaching benefits for Pluristem. The three patients in question were included in a high-risk group. Pluristem stock soared by 9% on the back of the news.
5 Biotech Penny Stock Gainers on the Radar: Altimmune (NASDAQ:ALT)
Altimmune stock’s gains this morning also related coronavirus news, causing it to emerge as one of the noteworthy penny stock gainers of the day. The biopharmaceutical company announced this morning that it is going to begin collaboration with the University of Alabama at Birmingham.
By way of the collaboration, the company is going to work on developing a single-dose vaccine, called AdCOVID, for the novel coronavirus. Due to the carnage that has been caused worldwide, it is no surprise that such news is welcomed by the market. The stock rose by 9.50% this morning.
5 Biotech Penny Stock Gainers on the Radar: CytoDyn Inc (OTCQB:CYDY)
To complete the list of penny stock gainers is another company that is now involved in the coronavirus fight. CytoDyn announced this morning that as many as three seriously ill coronavirus patients in New York are being treated by its medicine, leronlimab. Following the latest development, the number of patients that have been treated by leronlimab has now gone up to 10.
It goes without saying that this is a major development for the company, and the stock rose by a whopping 70% following the announcement, hitting a new 52-week high of $3.50.
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