President Trump teased that a China deal might not be in place until after the 2020 election. However, some penny stocks performed positively. These cheap stocks managed to notch significant gains, despite widespread selling across most of the market.
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Top Four Penny Stocks Moving Fast
This week’s pull-back didn’t slow down these hot stocks. Here are the top momentum movers from this week.
Outlook Therapeutics Inc. (OTLK)
Outlook Therapeutics Inc. is the fastest moving penny stock at the moment, having recorded substantial profit over the past few hours. The shares of the New Jersey-based company is up by 54% over the past 24 hours and could be headed higher in the coming days.
Share prices surged after the company received FDA agreements three special protocol assessments. The agreements cover planned clinical trials of ONS-5010. Regulators will evaluate the drug’s effectiveness against age-related macular degeneration (wet AMD – NORSE 1 and 2).
Calyxt, Inc. (CLTX)
Shares of Calyxt has been soaring over the past few days. It is currently up by 38% over the past 24 hours and might surge higher. Calyxt is a biotech company based in Minnesota and has made some managerial changes recently.
Calyxt is looking to expand its services and has appointed Vince Restucci as Vice President of Agronomy to help accelerate the move. Restucci would use his purchasing, marketing, and technical expertise to help expand Calyxt’s grower network.
ViewRay, Inc. (VRAY)
ViewRay has been one of the best performing penny stocks over the past few days. The shares of the company are up by 32% in 24 hours despite the general market recording massive losses. However, the share price could move higher over the coming days and weeks.
The surge in the stock price comes as ViewRay announced a partnership with Elekta and Medtronic. Its collaboration with Elekta is to further the knowledge and use of MR-guided radiation therapy. Elekta will invest capital for up to a 9.9% minority interest in ViewRay.
ViewRay and Medtronic will work together in clinical areas of mutual interest, including the benefits of the MRIdian MR-guided radiation therapy system. Medtronic would also invest in ViewRay based on the terms of the agreement.
Ability Inc. (ABIL)
The shares of Israeli-based software company has been moving fast over the past week. It has continued its upward trend and is up by 32% over the past 24 hours. Ability Inc.’s stock price could move higher following some recent developments.
The company recently entered into new agreements to sell its strategic interception solutions. According to the contract agreements, the firm receives fees of up to $9 million. Ability will collect the money after successfully implementing the system and deploying its solutions.
The ongoing interest in the solutions provided by Ability Inc. could help push the stock price higher over the coming weeks and months.
More Penny Stocks Moving Fast
The stock market is calming down some, but these penny stocks are still moving fast. For more hot penny stocks, sign up for Dork Alerts and receive regular reports on the best penny stocks to trade. You can also follow Stock Dork on Twitter and Facebook to track of all the current stock market news. Furthermore, remember to sign up for mobile Dork Alerts to get all the hottest stock picks, insights, and analysis delivered to your phone.