Penny stocks that go on MASSIVE runs are always our favorite! In this article, we’re looking at 2 hot penny stocks that have seen triple-digit increases over the past week and continue to dominate the top gainers’ list today!
Hot Penny Stocks #1: VTYX
Since last month, Ventyx Biosciences, Inc. (NASDAQ: VTYX) has been on investors’ radar after announcing that its executives will host investor meetings and provide a company overview at 2 major investor conferences – 2022 Wells Fargo Healthcare Conference & Morgan Stanley 20th Annual Global.
As a clinical-stage biopharma company, VTYX is well-known for its focus on advancing novel oral therapies that address a range of inflammatory & autoimmune diseases with significant unmet medical needs.
The company’s solid pipeline has attracted many biotech investors given that it positions them as a leader in the development of oral immunology therapies.
Right now, VTYX is working on 3 clinical-stage internally discovered programs targeting TYK2, S1P1R and NLRP3. The company has plans to initiate Phase 2 Proof of Concept trials in psoriasis, psoriatic arthritis, and Crohn’s disease by Q4 of this year.
There is already major progress. In fact, VTX958 achieved dose-dependent exposure/target coverage, with up to 24 hours of TYK2 IC50/IC90 coverage and class-leading coverage of its target cytokines. In addition to that, early data suggests VTX958 can achieve better exposure/TYK2 pathway suppression with a wider safety margin.
In light of its growth efforts, many believe VTYX is well-positioned for its $12 billion crohn’s disease market. This bullish sentiment could be the reason why the stock has spiked recently – and it shows no signs of stopping. Let’s take a look at it now…
Following its run-up, VTYX is now trading at $36.82 with a near resistance at 38.81. The stock shows strong support at 22.02. Accumulation has been heavily fluctuating but is recently declining as investors cash out for profits from the run-up. The MACD is bullish but is on the verge of a bearish crossover. The RSI is at 80 – indicating the stock is currently overbought.
VTYX has a gap that needs to be filled. This means that the stock will likely take a dip to its support before embarking on another run soon. In light of these indicators, investors bullish on the stock’s growth potential could secure a starter position now and average down on their investment in the coming days. Wanna know what’s the best entry point on a stock like VTYX? Get alerts for FREE!
Hot Penny Stocks #2: ANVS
On September 13th, Annovis Bio (NYSE: ANVS) announced today the publication of three granted US patents – US11400075, US11376238 and US11382893.
As a clinical-stage drug platform company addressing neurodegenerative diseases, these patents are a great step in ANVS’s development.
In fact, they strengthen and expand the company’s intellectual property portfolio and position it as a drug platform covering a wide range of neurodegenerative diseases – a market worth $62 million.
After its run-up, ANVS is now trading at $19.9 near its resistance of $21.26. The stock shows a strong support at 11.05. Accumulation has been climbing recently but is now steady. Meanwhile, the MACD is bearish following a series of bullish crossovers and the RSI is at 80 – indicating the stock is currently overbought.
In light of these indicators, ANVS could likely see a major drop in its PPS before embarking on another run soon as its catalysts play out. For this reason, bullish investors could wait for the RSI to cool down before they find a better entry point on this hot penny stock.
BOTTOM LINE
When penny stocks go on runs like these ones, they can make major gains for many penny stock investors. If you wanna stay on top of the hottest penny stocks on the NASDAQ & NYSE, don’t forget to sign up here.
As always, good luck to all (except the shorts)!
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Disclosure: We have no business relationship with any company whose stock is mentioned in this article. Viral Stocks is not an investment advisor and this article does not provide investment advice. Always do your own research, make your own investment decisions, or consult with your nearest financial advisor. This article is not a solicitation or recommendation to buy, sell, or hold securities. This article is our opinion and is meant for informational and educational purposes only and does not provide investment advice. Past performance is not indicative of future performance.
