3 Red-Hot Penny Stocks

BLIN stock has more than doubled in today's trading

by Karee Venema

Published on Jul 10, 2018 at 2:29 PM

Small-cap stocks are making notable gains today, with the Russell 2000 Index (RUT) fresh off a record high. Among individual names are web content management provider Bridgeline Digital Inc (NASDAQ:BLIN), hepatitis B specialist ContraVir Pharmaceuticals Inc (NASDAQ:CTRV), and biopharmaceutical firm MediciNova, Inc. (NASDAQ:MNOV). Here's a closer look at what's moving the shares.

Bridgeline Digital Stock Topples 200-Day Trendline

Bridgeline Digital stock is trading up nearly 150% at $3.25 -- the biggest percentage gainer on the Nasdaq so far -- after the company inked a deal with full-service bank to implement a digital experience platform. The shares are now well into positive year-to-date territory, up 20.2%, and are on track to close north of their 200-day moving average for the first time since May 2017.

ContraVir Pharmaceuticals Stock Upgraded at Maxim

Maxim upgraded ContraVir Pharmaceuticals stock to "buy" from "hold," waxing optimistic on the company's liquidity. In reaction, CTRV stock is up 4.8% at $1.24. Longer term, the shares are still down 57% year-to-date, and bottomed at a four-year low of $1.15 yesterday.

ALS Drug Data Boosts MediciNova Stock

MediciNova stock has jumped 11.1% to trade at $9.29, after the drugmaker reported upbeat data for its ALS treatment, MN-166. The company also said it's requested a meeting with the U.S. Food and Drug Administration (FDA) to go over the details for the next study.

MNOV stock has been selling off hard since topping out at a 11-year high of $14.50 on March 13, but bounced just below $7 one week ago -- near the site of its year-to-date breakeven level and 320-day moving average. A bigger rebound could keep short sellers in cover mode. Short interest fell 10.3% in the most recent reporting period, but still accounts for 10.2% of the equity's float, or 29.5 times the average daily pace of trading.

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