This year brings with it new penny stocks to watch. Some of these have spilled over the last year and are still topping the wishlist while some are the latest. Penny stocks can make you rich, but it depends on how well you are choosing them. So this article will deal with the top penny stocks 2022.
Ensure that you have a diversified portfolio and only begin with small amounts when investing initially. It is crucial to take emotions out of the picture fully. There are several ways to do so and all of that involve altering the state of your mind. The first is to invest some money in the penny stocks to make sure that you are fully fine with losing.
What Are Penny Stocks?
A penny stock mainly refers to the stock of any small company that trades below $5 every share. Even though some penny stocks are traded on big exchanges like the New York Stock Exchange (NYSE), most trade these stocks through OTC (over the counter) transactions via the OTCBB (OTC Bulletin Board) or via the privately owned OTCMG (OTC Markets Group).
These stocks are mainly related to small companies and are tarded infrequently implying they have a lack of liquidity or ready purchaser in the marketplace. As an outcome, investors may find it inconvenient to sell the stocks since there may not be any purchaser at that time. Because of its low liquidity, investors might face difficulty in finding a price that exactly reflects the market.
Top Penny Stocks 2022 You Should Consider
Penny stocks have a well suited reputation for high risk, low equity, and intense fluctuations. However, by working on due diligence, you can find out some of the hidden treasures in most unexpected areas.
Below you will find the top penny stocks 2022 that are under the radar of a large number of investors. So if you are wondering about the penny stocks to buy this week, then this is the right place for you. Also you can buy these penny stocks on Robinhood.
Oncternal Therapeutics Inc. (NASDAQ:ONCT)
The first among the list of penny stocks to buy 2022 is this. One of the health inclined entities on this list with insider buying is Oncternal Therapeutics. The clinical-stage biopharmaceutical entity is generating oncology therapies and developing its present candidate, zilovertamab, in curing mantle cell lymphoma.
Earlier this month, Oncternal declared that it attained a consensus with the FDA on creating a Phase 3 trial ZILO-301 for MCL treatment employing zilovertamab plus ibrutinib (branded by Abbvie/Janssen as Imbruvica). This “Study ZILO-301” is anticipated to start next quarter.
This week a stack of Form 4s were filed portraying insider buying from Oncternal’s General Counsel, CFO, Chief Medical Officer, and CEO. Over 60,000 shares were bought at an average value that ranges between $1.63 and $1.80.
P3 Health Partners Inc. (NASDAQ:PIII)
Special Purpose Acquisition Companies or SPACs have received a bad reputation since the trend developed during the 2020 pandemic. Effectively the same as what we have seen for years in the OTC space, a private entity gets acquired by a prevailing public company. In this scenario, the SPAC goes public with the sole aim of acquiring another entity. This is also known as a “blank check” stock, and these SPACs have a shelf-life prior to revising their strategy or facing unraveling.
Michael Balkin, who is a 10% owner and manager of Foresight Sponsor Group, bought 15,000 shares this week. As per the footnotes in a latest Form 4,
Pixelworks Inc. (NASDAQ:PXLW)
The third name in the list of top penny stocks 2022 is Pixelworks Inc. While it has not traded very vigorously this year, Pixelworks was a big aim point for traders last summer. PXLW stock increased from under $3 to highs of $7.90, thanks to an increase in visualization-tech stocks. The entity offers the creation of content and video delivery solutions for improving visual quality on varied screen types. According to Todd DeBonis, President and CEO of Pixelworks,
He further added,
This week, CFO Haley Green reported buying 2,794 shares of PXLW stock. The average buying value was $2.5585 and brought the total holdings for Green to 190,351.
Performant Financial (NASDAQ:PFMT)
This is the second last name in our list of top penny stocks 2022. Fintech has become a famous buzzword in the stock market presently. Whether it is discussing the latest decentralized finance or “DeFi”, digital currency, NFT, or anything else, or traditional financial technology, investors are noticing the trend. Performant Financial falls into this sector, taking an analytics strategy. It provides recovery and audit solutions for its clients and takes advantage of technology to do so.
January was an active month for insider purchasing. One group, in specific, accounted for the buys. Four Form 4s were filed on January 12th and 31st by Prescott Group Capital Management. Over 1.3 million shares were bought at average prices that ranged from $1.89 to $2.06. This is among the top penny stocks today.
Vaccinex Inc. (NASDAQ:VCNX)
This list of penny stocks 2022 has ample biotechs on it. Vaccinex is an addition to it. The entity creates antibody treatments for neurodegenerative and cancer disease. In the beginning of this year, the entity reported two full responses in the 1st three patients enrolled in a Phase 1b/2 KEYNOTE-B84 study of its pepinemab lead treatment. Mixed with Keytruda in patients with recurrent or metastatic neck and head cancer, the entity revealed that initial results were positive in two of the patients.
A series of reports of insider trading came out at the end of January. Directors Albert & Hacon Friedberg and CEO Maurice Zauderer reported buying over 5 million shares in the recent private placement of the company. The price of offering for this placement was $1.11 every share.
There is not a failsafe that assures a winning investment if they are bought by the investors. However, adding this portion to your research strategy does not hurt. At the very least, you will see if large holders or management are putting more skin in the game at the same time you have added the penny stocks 2022 to your watch list.