3 US Penny Stocks To Monitor In October 2024

As the major U.S. stock indexes hover near record levels, investors are keenly observing market movements and economic indicators for signs of stability and growth. Penny stocks, although an antiquated term, continue to capture interest by offering potential growth opportunities at lower price points. When these smaller or newer companies boast strong financial health and solid fundamentals, they present a unique chance to discover value in the market's less-traveled paths.

Top 10 Penny Stocks In The United States

Name	Share Price	Market Cap	Financial Health Rating
BAB (OTCPK:BABB)	$0.7988	$5.8M	★★★★★★
LexinFintech Holdings (NasdaqGS:LX)	$3.15	$485.02M	★★★★★★
Flexible Solutions International (NYSEAM:FSI)	$3.47	$45.02M	★★★★★★
RLX Technology (NYSE:RLX)	$1.62	$2.1B	★★★★★★
ARC Document Solutions (NYSE:ARC)	$3.42	$147.91M	★★★★★★
Imperial Petroleum (NasdaqCM:IMPP)	$3.77	$114.05M	★★★★★★
Permianville Royalty Trust (NYSE:PVL)	$1.57	$52.63M	★★★★★★
Golden Growers Cooperative (OTCPK:GGRO.U)	$4.50	$69.71M	★★★★★★
PHX Minerals (NYSE:PHX)	$3.63	$137.99M	★★★★★☆
CBAK Energy Technology (NasdaqCM:CBAT)	$1.09	$96.23M	★★★★★☆

Click here to see the full list of 752 stocks from our US Penny Stocks screener.

Here's a peek at a few of the choices from the screener.

Vivani Medical (NasdaqCM:VANI)

Simply Wall St Financial Health Rating: ★★★★★★

Overview: Vivani Medical, Inc. is a preclinical stage biopharmaceutical company focused on developing miniaturized and subdermal implants for chronic disease treatment, with a market cap of $71.83 million.

Operations: Vivani Medical, Inc. has not reported any revenue segments as it is currently in the preclinical stage of development.

Market Cap: $71.83M

Vivani Medical, Inc., with a market cap of US$71.83 million, is a pre-revenue biopharmaceutical company focused on developing subdermal implants for chronic diseases. Recent approvals by the Bellberry Human Research Ethics Committee and Australia's Therapeutic Goods Administration for its LIBERATE-1 trial represent significant progress in clinical development. The company has no debt and maintains sufficient cash runway to support ongoing research efforts, despite being unprofitable with losses increasing over the past five years. Vivani's strategic focus on obesity treatment through its GLP-1 implant technology could leverage Australian clinical data for broader regulatory submissions.

• Take a closer look at Vivani Medical's potential here in our financial health report.
• Gain insights into Vivani Medical's outlook and expected performance with our report on the company's earnings estimates.

Sensei Biotherapeutics (NasdaqGM:SNSE)

Simply Wall St Financial Health Rating: ★★★★★★

Overview: Sensei Biotherapeutics, Inc. is an immuno-oncology company focused on discovering and developing cancer therapeutics, with a market cap of $10.39 million.

Operations: Sensei Biotherapeutics, Inc. does not report any revenue segments as it is currently focused on the discovery and development of cancer therapeutics.

Market Cap: $10.39M

Sensei Biotherapeutics, Inc., with a market cap of US$10.39 million, is pre-revenue and focused on cancer therapeutics. Recent executive changes saw Josiah Craver appointed as CFO and principal accounting officer, reflecting potential strategic shifts. The company's cash runway extends over a year with no debt obligations, yet it remains unprofitable with increasing losses over the past five years. Despite this, Sensei's short-term assets significantly exceed its liabilities. Analysts anticipate a substantial rise in stock price; however, earnings are forecast to decline by 18.9% annually for the next three years amidst high share price volatility.

• Click here and access our complete financial health analysis report to understand the dynamics of Sensei Biotherapeutics.
• Explore Sensei Biotherapeutics' analyst forecasts in our growth report.

Relmada Therapeutics (NasdaqGS:RLMD)

Simply Wall St Financial Health Rating: ★★★★★★

Overview: Relmada Therapeutics, Inc. is a clinical-stage biotechnology company dedicated to developing treatments for central nervous system diseases and other disorders in the United States, with a market cap of approximately $108.93 million.

Operations: Relmada Therapeutics, Inc. currently does not report any revenue segments as it is a clinical-stage biotechnology company focused on developing treatments for central nervous system diseases and other disorders in the United States.

Market Cap: $108.93M

Relmada Therapeutics, Inc., with a market cap of US$108.93 million, is pre-revenue and focused on central nervous system treatments. The company remains unprofitable but has reduced its net loss over the past year. It is debt-free, with short-term assets of US$71 million exceeding liabilities of US$9.5 million, providing a stable financial base. Despite high share price volatility, Relmada's recent addition to the S&P Global BMI Index may enhance visibility among investors. A shelf registration for up to $250 million indicates potential capital-raising activities to support ongoing clinical developments and operations.

• Jump into the full analysis health report here for a deeper understanding of Relmada Therapeutics.
• Evaluate Relmada Therapeutics' prospects by accessing our earnings growth report.

Next Steps

• Click this link to deep-dive into the 752 companies within our US Penny Stocks screener.
• Are any of these part of your asset mix? Tap into the analytical power of Simply Wall St's portfolio to get a 360-degree view on how they're shaping up.
• Enhance your investing ability with the Simply Wall St app and enjoy free access to essential market intelligence spanning every continent.

Ready For A Different Approach?

• Explore high-performing small cap companies that haven't yet garnered significant analyst attention.
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• Find companies with promising cash flow potential yet trading below their fair value.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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