3 Penny Stocks Making New Highs; 1 Up 30% This Month $OBLN $ONVO $CLSD

3 Penny Stocks To Watch Targeting New Healthcare Initiatives

Penny stocks are the perfect representation of the mantra “High risk and high reward.” This means that when trading penny stocks, investors can get high rewards and they can equally get high losses. This is due to extreme volatility, so penny stock traders must do a good amount of research before placing trades.

On another note, it can be very difficult to find penny stocks to buy because there are so many of them. A very good way to make it easier is by using penny stock screeners.
If you screen for volume, price percentage increases, and sectors that interest you, your life will be that much easier. October has just begun and here is a list of penny stocks that have made strong moves this month:

Penny Stocks To Watch #3: Obalon Therapeutics Inc. (OBLN)

The first company on this list of penny stocks is Obalon Therapeutics Inc. (OBLN Stock Report) It is a healthcare company that creates medical technologies for weight loss. The company has the only FDA-approved swallowable, gas-filled intragastric balloon system that treats obesity.
OBLN stock has clibed rapidly up 25% from its previous close while trading 10x its average trading volume. This strong move happened after the company released positive penny stock news. Obalon announced the repayment of all long-term debt; retiring $5 million of its debt. In addition, Obalon filed an 8-K with the SEC in order to regain compliance with NASDAQ.

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William J. Plovanic, President and CFO of Obalon, said, “We are pleased to continue to transform the Company’s financial position and believe that with no long-term debt and our current cash position we are well-positioned to drive our strategy to bring the Obalon Balloon System to patients in need of a proven weight loss solution.”

Penny Stocks To Watch #2: Organovo Holdings Inc. (ONVO)

Organovo Holdings Inc. (ONVO Stock Report) is a biotechnology company creating treatments for rare and life-threatening diseases. In order to do this, the company has developed the ability to 3D bioprint tissues that can mimic human biology. At the moment, the company is focused on applying 3D bioprinting to liver tissue models.

Organovo recently revealed that it received a proposal from Viscient Biosciences. As a result, the biotech penny stock’s price had increased by 5.5%. Taylor Crouch, Organovo’s CEO and President, expressed, “I am confident that the strategic alternatives process is the right course of action for Organovo to take in order to maximize value for its stockholders.”

Penny Stocks To Watch #1: Clearside Biomedical Inc. (CLSD)

Moving away from medical device companies, Clearside Biomedical Inc. (CLSD Stock Report) is a biotechnology penny stock to watch. The last on this list of penny stocks, Clearside primarily creates and sells treatments to restore or preserve vision for patients. The company currently has four treatment products in its pipeline. Its lead candidate, Suprachoroidal CLS-TA, is in a Phase 3 trial.
Clearside announced that it will be giving multiple presentations at the American Academy of Ophthalmology. The company will cover its Phase 3 PEACHTREE clinical trial. In addition, the presentations could reveal some future business plans that the company may be looking at.
This news helped propel CLSD stock up 17.5% with above-average volume on October 3^rd. Since the beginning of the month, CLSD was up as much as 31% from lows of $0.60 to highs of $0.79 on Thursday.

* This article was originally published here