Chimerix, Cumberland Pharmaceuticals, and Cardiff Oncology are the 3 Penny Stocks to watch on December 12, 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 December 11, 2024. Simply put, Dollar Volume is the number of shares traded on a particular day multiplied by the day’s share price.
Chimerix, Inc. (CMRX) – Chimerix is a biopharmaceutical company engaged in developing treatments for people suffering from life-threatening diseases, especially in the oncology area.
CMRX had a Dollar Volume of $502.39 million on December 11, while its stock price rose by nearly 8%. Chimerix shares have been on an uptrend since Tuesday, as the company announced submission for accelerated approval for the use of Dordaviprone. The drug is being tested for the treatment of a lethal form of brain cancer in children and young adults. In the past two trading sessions, CMRX stock has zoomed over 242%.
Cumberland Pharmaceuticals (CPIX) – Cumberland Pharmaceuticals is a pharmaceutical company involved in the acquisition, development, and commercialization of branded prescription products for the specialty physician markets.
On December 11, CPIX had a Dollar Volume of $228.22 million, while its stock price fell by 0.8% in extended trading. The share price decline seems to be a reversal from the prior rally. On December 10, CPIX stock skyrocketed over 96% on news of the FDA’s (Food and Drug Administration) approval of a supplemental New Drug Application (sNDA) for its Acetadote product. The drug helps in reducing or preventing liver damage from the potential toxic quantities of acetaminophen, an over-the-counter pain and fever relief medication.
Cardiff Oncology (CRDF) – Cardiff Oncology is a clinical-stage biotechnology company that is focused on leveraging its PLK1 inhibitor to develop innovative treatments for different types of cancer.
CRDF’s Dollar Volume stood at $183.95 million yesterday, accompanied by a stock price decline of 2.1%. Similar to Cumberland Pharmaceuticals, Cardiff Oncology’s share price decline seems a reversal from the prior day’s rally. On December 10, CRDF stock surged nearly 55% on news of positive initial data from its ongoing randomized Phase 2 CRDF-004 trial evaluating its lead candidate onvansertib combined with standard of care in the RAS-mut mCRC clinical trial. Moreover, CRDF announced the pricing of an underwriting offering of 15,384,619 shares of its common stock. Shares might have retreated on this news yesterday.
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.
