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Penny Stocks To Buy Or Sell: TrovaGene Inc. (TROV) $TROV

More and more investors have started to fall in love with penny stocks. You are probably wondering why someone would want to trade such a risky security. Well, it is pretty simple actually.

If you do your diligence and research a company properly your chances of making more successful trades grow. Furthermore, trading penny stocks can bring large amounts of profits in a quick amount of time compared to large-cap stocks. The biotechnology sector has many advantages that make it so appealing to both small and large-cap investors.

biotech penny stocks to watch 2019
First off, the market potential for a lot of biotechnology companies is very high due to these companies creating brand new treatments. Second, these companies produce a lot of news due to development regarding product candidate developments like clinical trials.
The third thing is that a lot of these companies are still in the early stages. The potential for future growth can be large depending on the way a biotech stock evolves.

Penny Stocks To Buy Or Sell: TrovaGene Inc. (TROV)

Our focal point today: TrovaGene Inc. (TROV Stock Report). It utilizes precision cancer medicine to develop its treatment pipeline. TrovaGene is a biotechnology company that is developing drugs that target cell division to treat leukemia, lymphoma, and solid tumor cancers. As of now, the company has 3 active clinical trials all revolving around its lead product candidate, Onvansertib.

[Related Article] 3 Penny Stocks Robinhood Users Are Watching – October 2019

TrovaGene’s stock over the last year has had its ups and downs. Overall, the biotech penny stock was hammered most of the year, slowly declining from $3.78 to $2.39. However, the company had multiple strong swings throughout the year.

One instance was from August 14th to  August 19th where the penny stock grew nearly 80%. Another example of this occurred from February 20th to March 8th where the stock climbed up as high as 271%. But does it make this one of the penny stocks to buy or sell next week?

Penny Stock With Ups & Downs

TrovaGene has announced quite a bit of news over the last month which has begun to attract investors to the penny stock. Most recently on October 22nd, Trovagene announced positive responses from its phase 1b/2 trial for Onvansertib. It may have helped act as a catalyst or the latest uptrend. Furthermore, Trovagene’s stock price has risen from $1.05 all the way to $2.65 in 4 trading sessions.

“We believe the combination of onvansertib and FOLFIRI/bevacizumab has the potential to provide a much-needed safe and effective new treatment option for the approximately 50% of patients with KRAS-mutated mCRC,” stated Dr. Thomas Adams, CEO and Chairman of Trovagene. But this may not be as great a story as you may imagine. But what happened Friday is interesting enough to consider TROV a penny stock to watch.

penny stocks to buy or sell Trovagene (TROV)
The company entered into definitive agreements with institutional investors for the sale of 2,756,340 shares of common stock. The price of the raise was done at just above $1.81 a share. As you would imagine, the stock took a hit all the way down to that level.

But instead of continuing sideways or lower, shares bounced for the rest of the afternoon. By the close, TROV stock closed the week at $2.13. Can this trend continue into next week or is this just a head-fake before the next downtrend.

* This article was originally published here

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