The biotech sector has brought its share of big gains to investors’ portfolios – especially ever since the breakout of COVID-19. In fact, these past few years have made it clear that biotech companies make a great addition to a diversified portfolio. However, picking the right ones is crucial. Look for companies with a solid pipeline, strong catalysts & constant growth initiatives.
With this in mind, we’re bringing you 2 of the best biotech stocks to trade this week. Biotech stocks are always good plays. In this article, we’re looking at Reviva Pharmaceuticals Holdings, Inc. (NASDAQ: RVPH) & Miromatrix Medical Inc. (NASDAQ: MIRO) – our top picks for biotech stocks to buy right now.
Biotech Stocks to BUY: RVPH
As a clinical-stage pharma company, Reviva Pharmaceuticals Holdings, Inc. (NASDAQ: RVPH) is known for its work on developing therapies that address unmet medical needs in the areas of central nervous system (CNS), cardiovascular, metabolic, and inflammatory diseases.
Right now, RVPH’s pipeline includes two drug candidates, RP5063 (brilaroxazine) and RP1208 – which are new chemical entities discovered in-house. The company has been granted composition of matter patents for both RP5063 and R1208 in the US, Europe & several other countries.
With plans to expand & grow even further, the company recently announced it has entered into definitive agreements with a healthcare-focused institutional investor to sell 3.35 million common stock shares at a PPS of $2.53. The agreement will result in gross proceeds of almost $8.5 million – before deducting placement agent fees & other estimated offering expenses – and will help the company’s growth plans immensely.
With plans to dominate its field, RVPH intends to use the net proceeds from the offering to continue the clinical development of brilaroxazine (RP5063) – its for the treatment of acute and maintenance schizophrenia, and for working capital and other general corporate purposes.
RVPH is now trading at $2.24 with a near support at 2.19 and another at 1.31. The stock’s recent run-up formed a resistance at 2.67 that seems hard to break. Accumulation has been falling steadily ever since the stock went on a run end of August. Meanwhile, RSI is picking up and is now holding at 49 – indicating it is currently stable to trade RVPH. Additionally, the MACD is on the verge of a bullish crossover.
The fall in accumulation could be largely the result of investors cashing out for profits following the stock’s run-up. However, in light of the stock’s growth initiatives and strong pipeline, many are bullish another run-up past its current resistance is imminent. Get alerts on the best biotech penny stocks to trade for FREE!
Biotech Stocks to BUY: MIRO
Miromatrix Medical Inc. (NASDAQ: MIRO) is a life sciences company pioneering a novel technology for bioengineering fully transplantable organs to help save and improve patients’ lives. Recently, the company received a new patent from the US Patent & Trademark Office for its perfusion decellularization and recellularization technology. With this new patent, MIRO has expanded its extensive patent portfolio covering the bioengineering of transplantable organs.
The patent – titled “Methods of Recellularizing a Tissue or Organ for Improved Transplantability” – covers the revascularization of decellularized organs and tissues that encompass all types of organs including liver, lung, kidney, and heart.
CEO Jeff Ross is bullish on the company’s future because “Organ transplantation is one of the largest unmet medical needs facing the world today. In fact, with this patent, the company is well positioned to “demonstrate its ability to revascularize decellularized organs and further its commitment to bioengineering completely functional, transplantable organs to solve this major health crisis.”
Since its inception, the company has made major growth strides and continues to do so. Till now, MIRO’s perfusion decellularization and recellularization technology platform includes 119 issued & 34 pending patent applications, with protection in the US and major markets worldwide. Now, with this latest patent, the company is well on its way to capitalizing on an extremely lucrative market – a catalyst that could send its stock on a MAJOR RUN…
Let’s take a look at where it’s trading now…
After its recent run-up formed a resistance at 4.89, MIRO has seen a slight decline in its PPS and is now trading at $4.5. The stock shows a strong support at 2.74 and another at 2.54. Accumulation went up the past couple of days and the same goes for RSI which is now holding at 78. However, the MACD is bearish but is on the verge of a crossover.
Now that the RSI is dropping along with the accumulation, investors could wait for the stock to cool down before securing a position. However, bullish investors could secure a starter position now & average up on their investment as the stock gains more momentum.
Given that these 2 biotech stocks are now trading near their resistance, investors are watching closely for a major decline before their catalysts play out. Buying the dip here could be a major WIN. Get alerts when the PPS starts dropping & be the first to buy the dip on these promising biotech plays.
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.