BurgerFi International, Sangamo Therapeutics, and Cel-Sci Corp. are the 3 Penny Stocks to watch on July 30, 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 with the highest Dollar Volume as of the close on July 29, 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.
BurgerFi International (BFI) – BurgerFi International is an American hamburger fast-food chain. The company owns and franchises fast-casual and premium-casual dining restaurants under the brands BurgerFi and Anthony’s.
On July 29, BFI had a Dollar Volume of $131.71 million, while its stock price surged by 11.9%. BFI shares have witnessed heavy trading volumes and stock price fluctuations recently. On July 25, after the market closed, BFI announced that it had settled a long pending litigation with Lion Point Capital, LP. As part of the settlement, BFI will pay $1.35 million and issue 300,000 Series A Preferred Shares to Lion Point. Since July 26, BFI shares have zoomed over 120%.
Sangamo Therapeutics (SGMO) – Sangamo Therapeutics is a clinical-stage genomic medicine company focused on developing medicines for the treatment of serious neurological diseases. The company utilizes its expertise and proprietary zinc finger technology to create genomic cures for genetic diseases.
SGMO had a Dollar Volume of $106.88 million on July 29, accompanied by a share price gain of nearly 6%. Shares skyrocketed over 40% in early hours trading yesterday. Sangamo shares have been on an upswing since July 24, after the company announced positive top-line results from the Phase 3 Trial of its Hemophilia A gene therapy investigative drug.
The company is investigating its giroctocogene fitelparvovec Hemophilia A therapy in partnership with Pfizer (PFE) and could gain monetary payments on achieving certain milestones. Plus, SGMO is entitled to receive product sales royalties of 14% to 20% from Pfizer, if the drug is approved and commercialized. SGMO shares have exploded 130% since the news.
Cel-Sci Corp. (CVM) – Cel-Sci is a clinical-stage biotechnology company focused on researching and developing immunotherapy treatments for curing cancer, autoimmune, and infectious diseases. Its lead product candidate, Multikine (Leukocyte Interleukin injection), is being developed as a potential treatment for head and neck cancer and cervical dysplasia or peri-anal warts in HIV/HPV co-infected patients.
On July 29, CVM had a Dollar Volume of $76.72 million, while its stock price fell by 5.3% and continued the decline in after-hours trading. CVM stock fell in response to the company’s new offering of 10.85 million ordinary shares. Cel-Sci intends to use the net proceeds from the share sale to invest in the ongoing development of Multikine as well as general corporate and working capital requirements.
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.
