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This story initially appeared on PennyStocks
Are These Biotech Penny Shares Price Watching Proper Now?
There’s a purpose why biotech penny shares have remained so common amongst traders this yr. And whereas Covid initially was the principle trigger for heightened investor curiosity, its lasting impact has helped to convey a slew of merchants into the biotech business.
A yr and a half in the past, traders had been on the lookout for biotech penny shares that might profit from Covid. This made sense because the pandemic was simply starting, and firms concerned in vaccines or remedies had been skyrocketing in worth. Nevertheless, as time went on and the give attention to biotech continued to develop, increasingly firms started to point out potential.
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Now, in August, there are lots of of biotech penny shares to select from, all with completely different worth factors for traders to think about. As at all times, merchants ought to do as a lot analysis as attainable to make sure that they know precisely what they’re stepping into. However, with the web at our fingertips, analysis is simpler than ever earlier than. On prime of that, functions like Robinhood have made it that a lot simpler to commerce penny shares. With that in thoughts, listed below are a couple of biotech shares that could possibly be on the watch checklist earlier than the tip of the month.
3 Biotech Penny Shares to Watch Proper Now
- ReShape Lifesciences Inc. (NASDAQ: RSLS)
- Asensus Surgical Inc. (NYSE: ASXC)
- Chembio Diagnostics Inc. (NASDAQ: CEMI)
ReShape Lifesciences Inc. (NASDAQ: RSLS)
ReShape Lifesciences Inc. is a biotech penny inventory that we’ve lined quite a few instances prior to now few months. This firm sells merchandise for weight problems remedy and to be used in fixing metabolic illnesses. Its numerous merchandise embody Lap-Band System, ReShapeCare, ReShape Diabetes Bloc-Stim Neuromodulation, and way more.
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These merchandise have develop into extraordinarily common within the weight reduction business, and have introduced a whole lot of investor consideration to RSLS inventory. On August fifth the corporate reported its preliminary unaudited second-quarter 2021 monetary outcomes. The corporate’s income went up by 107% yr over yr on this timeframe.
“The second quarter was an distinctive one for the Firm. On this interval, we accomplished our extremely anticipated merger with Obalon Therapeutics, elevated visibility within the monetary markets by itemizing on the Nasdaq and bolstered our various product portfolio with the launch of our on-line wellness hub, ReShape MarketPlace.”
The President and CEO of RSLS, Bart Bandy
This huge income improve is a mirrored image of extra demand for ReShape’s merchandise. As well as, elective procedures have begun to happen at related ranges to pre-covid. On the identical day of the information launch, RSLS inventory went up greater than 7%. So, contemplating all of this, will RSLS make your checklist of penny shares to look at?
Asensus Surgical Inc. (NYSE: ASXC)
Asensus Surgical Inc. is one other biotech penny inventory that we’ve steadily lined over the previous few months. It is a firm that creates medical units in the US, Asia, and Europe. Asensus researches, develops, and sells medical gadget robotics for surgical procedure functions.
Its merchandise embody the Senhance Surgical system which is a multi-port robotic surgical procedure system permitting for as much as 4 arms to regulate robotic devices and a digital camera. One of many major causes that traders are watching ASXC is for its improvements within the surgical procedure business. Asensus creates these proprietary merchandise which can be utilized to boost numerous frequent surgical procedures. On August fifth, the corporate reported its working and monetary outcomes for the second quarter of 2021.
“Throughout the quarter, we continued to drive robust adoption and utilization tendencies whereas making progress in the direction of our strategic focus areas, together with the enlargement of medical proof, development of our put in base, elevated process volumes, the enlargement of our portfolio and the continued technological improvement of Senhance.”
The President and CEO of Asensus Surgical, Anthony Fernando
Within the first half of 2021, the corporate signed two lease agreements with hospitals to put in its Senhance Surgical Techniques. It additionally famous that greater than 1000 procedures had been carried out utilizing this know-how within the first half of 2021. ASXC inventory went up greater than 2% on the day of this information launch. Noting this data, is ASXC a contender to your checklist of penny shares to look at?
Chembio Diagnostics Inc. (NASDAQ: CEMI)
Since July twentieth, shares of CEMI inventory have shot up by over 40%. It is a sizable acquire in solely a short while body, and one which reveals simply how a lot potential CEMI might have. For some context, Chembio is an organization that’s at present providing check kits for COVID-19 in addition to assessments for HIV, Syphilis, and the Zika virus.
The corporate’s merchandise are offered underneath the SURE CHECK, STAT VIEW, DPP, and STAT-PAK logos. Whereas its Covid-19 product does present short-term potential for the corporate, its different merchandise might assist it to reach the long run. And, the illnesses it offers testing for are all quite common world wide, indicating robust market demand for its merchandise shifting ahead.
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On August fifth, Chembio Diagnostics reported its second-quarter monetary outcomes for 2021. The corporate’s whole income for the quarter grew 26% yr over yr. Along with this constructive information, its product income grew 4% yr over yr as effectively. Throughout the quarter, Chembio positioned its major give attention to its DPP COVID assessments.
“Within the second quarter, we centered on worldwide business alternatives the place our DPP COVID check has been accepted. These efforts had been profitable, ensuing within the largest order in firm historical past for DPP SARS-CoV-2 Antigen assessments from our longstanding buyer Bio-Manguinhos. We additionally made progress on our medical exercise to help U.S. regulatory submissions for our DPP COVID-19 assessments.”
The President and CEO of Chembio Diagnostics, Richard Eberly
Contemplating this thrilling information and the potential that CEMI inventory might have, is it value including to your watchlist?
Which Biotech Penny Shares Are Price Shopping for?
Discovering the perfect biotech penny shares to purchase is all about understanding the place to look. With so many to select from, traders ought to slender the checklist down by taking a look at financials, an organization’s pipeline, and every other info it places out. Taking all of this into consideration, which penny shares within the biotech business are you watching proper now?
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