Since the Covid-19 outbreak, everyone has been living in fear of another pandemic. For this reason, pharmaceutical companies were quick to act on the Monkeypox threat when it first appeared in May of this year. The rare viral disease – is usually found in West and Central Africa. – has been quickly spreading across countries and more and more continue to report cases every day. As Monkeypox cases surface, monkeypox stocks are quickly gaining a lot of traction from investors.
Experts state that the actual number of cases is far greater than the 306 confirmed cases, the Biden administration is currently working on sending tens of thousands of vaccine doses all over the country.
Up till now, only one vaccination – Jynneos vaccine – is approved by the federal regulators. However, companies such as SIGA Technologies (NASDAQ: SIGA), Co-Diagnostics, Inc. (Nasdaq-CM: CODX) and GeoVax Labs, Inc. (GOVX) have been focusing all their efforts on developing their own Monkeypox vaccines .
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#1 Monkeypox Stocks Taking Off: SIGA
As a commercial-stage pharmaceutical company, SIGA Technologies (NASDAQ: SIGA) focuses on providing reliable solutions for health security market unmet needs. The company is well-known for its FDA-approved oral smallpox treatment – TPOXX. With that in mind, it’s important to note that there’s a huge similarity between smallpox and monkeypox.
Consequently, The European Medicine Agency (EMA) approved TPOXX to be used as a treatment for multiple diseases including smallpox, cowpox, and most importantly monkeypox. On June 23, SIGA announced that it has received procurement orders for TPOXX totaling approximately $13 million.
Out of the $13 million order, almost $2 million was ordered by an Asian country that already has a contract for TPOXX. The other $11 million came from 2 new international jurisdictions. Commenting on that SIGA’s CEO – Phil Gomez said that,
We expect a portion of the courses of oral TPOXX delivered under these orders will be used to treat active monkeypox cases and represent the first step in response to this outbreak by the global public health community.
Currently, on an upwards trend, SIGA is trading at $11.55 with resistance around 13.11 and primary support near 10.63 as well as secondary support around 9.64. Our 100% free alerts will tell you in real-time when’s the next run-up of SIGA and many other NYSE and NASDAQ penny stocks
Meanwhile, the MACD is on a bullish crossover and is showing no signs of an incoming crossover anytime soon. Additionally, accumulation is steadily increasing and the RSI is holding at 57 – all supporting investors’ bullish sentiment.
#2 Monkeypox Stocks Taking Off: CODX
Co-Diagnostics, Inc. (Nasdaq-CM: CODX) is a molecular diagnostics company that focuses its efforts on developing, manufacturing, and commercializing reagents used in diagnostic tests to detect and analyze nucleic acid molecules.
With operations in the US and all over the world, CODX offers polymerase chain reaction (PCR) tests for a wide array of viruses such as Covid-19, human papillomavirus, malaria, zika virus, hepatitis B and C. The company also has molecular tools used for detecting infectious diseases and liquid biopsy for cancer screening.
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On May 26, Co-Diagnostics announced the completion of its principal design of a PCR test for the Monkeypox virus. This news caught investors’ eyes and made the stock increase 22% in one day. With its high reputation and success records, the company has promising potential; to move forward. On that note, the company’s CEO stated that:
We look forward to eventually making this test available in affected regions as needed to help slow the spread of the virus through early and accurate detection.
At the moment, CODX is trading at $5.56 with resistance around 5.72 and primary support nearing 4.91 as well as a secondary one at 3.78.
Although MACD is on a recent bullish crossover, accumulation has been trending downwards. Whereas RSI is at 67 indicating that currently the stock is slightly overbought. This seems like a good entry point for bullish investors as experts believe that the stock is undervalued and has great potential to increase in value over time.
#3 Monkeypox Stocks Taking Off: GOVX
Finally, GeoVax Labs, Inc. (NASDAQ: GOVX) is a clinical-stage biotechnology enterprise that works on developing vaccines and immunotherapies for cancers and infectious diseases. GOVX has been one of the first companies in the US and the world to consider developing a vaccination for monkeypox.
Even though the World Health Organization and the company’s board are optimistic that monkeypox won’t be turning into a new pandemic, GeoVax Labs still took actions to help prevent the issue.
Already, the company published in various peer-reviewed journals that its MVA vaccines have the ability to prevent monkeypox. The vaccine was primarily used in protecting animal models against HIV and other infections. As the company embarks on the second phase of trials on its Covid-19 vaccine, it’s starting to address the monkeypox virus.
Currently trending downwards, GOVX is trading at $.8373 with a primary resistance around 1.3 and a secondary resistance near 2.25. This dip might be a good entry point for bullish investors especially since monkeypox stocks are regaining momentum these days.
Accumulation is also trending downwards, however, the MACD is on a bullish crossover. Lastly, the RSI is at 32 which indicates that GOVX is currently oversold.
Bottom Line
With another virus outbreak, the world is holding its breath but many companies are taking the initiative to help prevent another catastrophe. Among these companies are the three we talked about in this article, SIGA, CODX, and GOVX, who are all showing clear signs of the great milestones they can achieve. Sign up for our free alerts now to stay updated with the latest hot NYSE and NASDAQ Penny stocks!
As always, good luck to all (except the shorts)!
Disclosure: We have no business relationship with any company whose stock is mentioned in this video. Viral Stocks is not an investment advisor and this video does not provide investment advice. Always do your own research, make your own investment decisions, or consult with your nearest financial advisor. This video is not a solicitation or recommendation to buy, sell, or hold securities. This video 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.
