Personalis Inc., SunPower, and Virpax Pharmaceuticals are the 3 Penny Stocks to watch on July 23, 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.
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 that had the highest Dollar Volume as of the close on July 22, 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.
Personalis, Inc. (PSNL) – Personalis offers genome sequencing and analytics solutions to support the development of cancer-treating drugs and vaccines. Its NeXT Platform enables biopharmaceutical customers to understand the complex nature of roughly 20,000 human genes and immune system from a single tissue sample.
On July 22, PSNL had a Dollar Volume of $87.79 million, while its stock price plunged by 22.6%. There was no specific news for PSNL on Monday. Shares have been on an upswing since July 3, with PSNL stock gaining over 142% in the past month alone.
SunPower Corp. (SPWR) – SunPower is a clean energy and storage company that designs, manufactures, and delivers solar panels and systems to both residential and commercial customers.
SPWR had a Dollar Volume of $84.61 million on July 22, while its stock price rose by 5.4%. SunPower shares have been on a steady decline since July 18, when the company noted that it is halting some operations. The following day, Guggenheim’s analysts mentioned in a research note that the stock no longer has any equity value, causing SPWR shares to plunge further. Since July 18, SPWR stock has lost over 70% of its value.
Virpax Pharmaceuticals Inc. (VRPX) – Virpax is a pre-clinical stage pharmaceutical company focused on developing non-addictive product candidates that manage severe pain.
On July 22, VRPX had a Dollar Volume of $82.19 million, with its share price sliding by 6.5%. Virpax shares have been highly volatile in the past month since the company announced a $2.5 million loan facility on July 8 and a deal to secure more funds. Moreover, on July 10, Virpax announced positive results for its Swine Model pilot study for its lead product candidate, Probudur. Since July 8, VRPX shares have skyrocketed over 175%.
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.
