As the stock markets provide much excitement and adventure, investors who have a good risk appetite are interested in penny stocks. Investors ready to take risks can rally around penny stocks to explore growth opportunities. These cheap stocks that trade under 5 dollars per share have intense volatility and poor quality. Whether these are stocks of tech companies or any other industry, it hardly makes any difference to investors ready to bear high trading costs. Investors’ experience and ability to conduct due diligence can help them identify some strong buy penny stocks like hidden treasures. However, maintaining a diversified and balanced portfolio of shares of various types and different industries can help to mitigate the risks considerably.
Here are some penny stocks that should generate interest among investors in the segment and stocks with strong buy ratings that can help maintain an even keel.
Two Strong buy penny stocks to pick now
Stocks or shares of Bolt Biotherapeutics and Tracon Pharmaceuticals are receiving much attention at the NASDAQ and other exchanges.
Bolt Biotherapeutics (BOLT) – As of December 2021, there was high optimism about BOLT stocks that experts foresee reaching a price of $33. The Company is working on ISACs or Immune Stimulating Antibody Conjugates, Bolt’s proprietary technology. These antibody conjugates target tumor cells, thereby eliminating myeloid cells.
BDC 1001 is the Company’s lead candidate for treating tumors. The presentation of the interim clinical data on 57 candidates spread positivity as there were early signs of clinical activity accompanied by biomarker changes in the tumor microenvironment of biopsies conducted post-treatment. According to a press release, the Company is contemplating a weekly dose to determine the dose recommendation for Phase-2, in which BDC 1001 will be used for mono-therapy along with a checkpoint inhibitor.
A Jones’ trading analyst expressed optimism at the prospect of BOLT’s combination study by partnering with Bristol Myer’s Squibb’s (BMY) Opdivo to start during the end of 2022 to show durable and more profound responses. The analyst maintains a buy rating for BOLT stocks with a target price of $33, reduced from the earlier $45.
Tracon Pharmaceuticals (TCON) – Tracon Pharmaceuticals is a biopharmaceutical company focused on developing and marketing novel targeted therapeutics for cancer. To develop and commercialize envafolimab in soft tissue sarcoma across North America, the Company has agreed with 3D Medicines and Alphamab Oncology. Envafolimab is an invention of Alphamab Oncology and the first single-domain antibody administered subcutaneously, and this antibody inhibits a kind of protein available in large quantities in cancer cells.
The Company presented the positive results of efficacy and safety data of envafolimab during the ENVASARC pivotal trial.
According to a BTIG analyst, the advancements of envafolimab are drawing primary investors towards TCON. Labeling the drug development model as unique due to the management handling the project on its own instead of relying on CROs (Contract Research Organizations), the analyst is upbeat about the stock. He puts a buy rating with a target price of $14, which would be six times the closing price of $ 2.52 on December 28, 2021.
Best value tech penny stocks
Although the performance of tech penny stocks has swung wildly over the past 12 months, it should not be hard to find some strong buy stocks right now. From the best value penny stocks to the fastest growing penny stocks, the choices are many. But you need to do some reasonable due diligence to decide which stocks to pick up right now or at least during the first quarter of 2022.
Excela Technologies Inc. (XELA) – The business process automation company offers software and services for human resources management, accounting, and other services. The Company is among the tech penny stock companies with the lowest price to sales ratio (P/S) for the trailing 12 months. According to the Company’s announcement on September 1, 2021, it had achieved the target of completing a $150 million at-the-market equity program. The Company took just 2 months to reach the target announced on June 30. As of August 1, 2021, the Company held an expanded liquidity position of more than $200 million in an expanded liquidity position.
The strong buy penny stocks mentioned here should help maintain a diversified portfolio.
