Genprex, Ensysce Biosciences, and ENDRA Life Sciences are the 3 Penny Stocks to watch on October 24, 2024, based on TipRanks’ Penny Stock Screener tool. Penny stocks are defined as stocks that trade at or below $5 per share and have a market capitalization of below $300 million.
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The Penny Stock Screener helps investors scan stocks based on numerous parameters, including Sector, Price Target Upside, Smart Score, Analyst Consensus, Dollar Volume, and Price Change.
We leveraged the tool to pick the top three penny stocks with the highest Dollar Volume as of the close on October 23, 2024. Simply put, Dollar Volume is the number of shares traded on a particular day multiplied by the day’s share price. We can also look at the Relative Volume and Average Volume (last 3 months) to gauge how the trading volumes have been very high (showing high interest) compared to the average.
Genprex Inc. (GNPX) – Genprex is a clinical-stage gene therapy company focused on developing novel therapies for the treatment of cancer and diabetes. On October 23, GNPX had a Dollar Volume of $683.28 million, while its shares plunged 26.2%. There was no specific news for Genprex yesterday.
However, shares have been volatile in the last couple of trading sessions. On October 15, Genprex announced that it received approval to move to the highest dose group in the Phase 1 Portion of Acclaim-3 clinical trials of Reqorsa gene therapy for the treatment of small cell lung cancer. Since October 15, GNPX shares have skyrocketed over 668%.
Ensysce Biosciences (ENSC) – Ensysce Biosciences is a clinical-stage pharmaceutical company developing the treatment for severe pain relief, while also dealing with the potential for opioid misuse, abuse, and overdose.
ENSC had a Dollar Volume of $397.98 million yesterday, with its stock price falling by 25.6%. There was no specific reason for ENSC’s stock price movement on October 23. Shares have been on an uptrend since October 21, gaining over 125%.
ENDRA Life Sciences (NDRA) – ENDRA Life Sciences is a medical device manufacturing company focused on developing an advanced Thermo-Acoustic Enhanced UltraSound (TAEUS) system to enable clinicians to visualize human tissue composition, function, and temperature similar to a CT scan or MRI, but at lower costs.
On October 23, NDRA’s Dollar Volume stood at $153.28 million, accompanied by a stock price fall of 21.1%. Yesterday, ENDRA announced the activation of its TAEUS system to initiate clinical study at LMU University Hospital in Germany. The study will assess TAEUS’ liver fat measurement capabilities against the gold standard MRI-PDFF test. If proven effective, it could be a great achievement for the company and boost the commercialization prospects for ENDRA. NDRA shares spiked over 89% on October 22. Yesterday’s share price fall marked a reversal from earlier gains.
To find more penny stocks like these, you can take a look at TipRanks’ Penny Stock Screener tool. It shows a list of all penny stocks, their price movement, and other vital data.
