Nasdaq Momentum Watchlist Under $5: AHI, BXRX, VBIV, RNLX, ATXG
Momentum stocks are some of the best plays for any investor looking to profit from a strong price movement to the upside or downside. The key to profiting from such a strong price movement is to enter a position before the momentum starts to wear off. The Nasdaq presents some of the best opportunities for momentum plays in stocks trading under $5.
The strong momentum could be attributed to investors reacting to a game-changing technology product or service that affirms the company’s long-term prospects or growth metrics. AHI, BXRX, VBIV and ATXG are some of the top momentum plays in Nasdaq showing strong price action while still trading for less than $5.
Advanced Health Intelligence Explodes 200% Amid Strong AHI Technology Demand
Advanced Health Intelligence Ltd (NASDAQ: AHI) specializing in delivering scalable health assessment, risk stratification and digital triage capabilities has been making waves. Its stock is already up by more than 200% over the past month signifying strong momentum in the market. The strong stock performance comes as the company continues to deliver health tech innovation via smartphones.
Powered by a patented AHI technology, Advanced Health Intelligence is increasingly showcasing the next frontier in digitizing the healthcare sector. Its transition from a body scanning company into a full-suite biometric health risk assessment is gaining traction, aided by the acquisition of the well Digital Health Group and Vertica Health.
The integration has enabled the medical technology firm to offer broader marker offerings able to deliver scalable health assessment risk stratification and digital triage to health providers. The unique and proprietary capabilities allow AHI to offer cost-effective health accessibility for smartphone users, strengthening its revenue streams.
Advanced Health Intelligence has already succeeded in increasing revenue with current partnerships while unlocking multiple partnership approaches. It has already achieved the highest quarterly revenue of $253,355, which is expected to increase through increased partnerships and strong demand for the solutions.
The strong momentum in the market stems from AHI making solid progress in the commercialization of its offerings.
“AHI is very clearly targeting cashflow breakeven in 2023 and the interactions with partners and prospects surrounding our new propositions is indicating substantial revenue growth throughout 2023 towards that target and beyond”, said Scott Montgomery, chief executive officer.
Additionally, AHI has completed a reverse stock split of 1 American depository share representing 7 ordinary shares. It took the step to regain compliance with the Nasdaq rule.
Baudax Bio Ventures into Treg Based Cell Therapies with Teralmmune Acquisition
Baudax Bio, Inc. (Nasdaq: BXRX) is another small-cap strong momentum play in the Nasdaq. The stock has been in explosive form in recent days, rallying by more than 100% after a long period of consolidation. The rally comes on the pharmaceutical company focused on providing innovative products for acute and related settings confirmed the acquisition of Teralmmune.
With the acquisition, BXRX gains access to the discovery and development of novel Treg-based cell therapies targeting autoimmune diseases. In addition, it gains access to world-class scientific expertise able to execute various clinical development programs.
“This merger adds TeraImmune’s TI-168 asset to the Baudax portfolio—a promising next-generation, autologous FVIII TCR-Treg cell therapy candidate to eliminate clotting factor VIII (FVIII) inhibitors in Hemophilia A patients,” said Baudax Bio CEO Gerri Henwood.
The merger should enable a modest initial budget to activate phase ½, a Clinical trial of T1168 for treating Hemophilia A.
The acquisition boost on BXRX stock comes barely a month after the pharmaceutical giant announced positive top-line results from a phase 2 randomized clinical trial of BX1000. The BX1000 is a novel treatment being investigated for neuromuscular blockade in patients undergoing elective surgery.
Phase 2 clinical trials showed that BX1000 compared favorably to rocuronium. Therefore, the regiment may provide improved control of neuromuscular paralysis for surgical patients. Currently, available options don’t provide ideal control of neuromuscular paralysis, which makes BX1000 an ideal solution.
VBI Vaccines Secures PreHevbri Hepatitis B Vaccine UK Distribution Rights
VBI Vaccines Inc. (NASDAQ: VBIV), a biopharmaceutical company that develops and sells vaccines for treating immune-oncology and infectious form, has been in explosive form. The strong momentum has seen the stock rally by more than 70% from its 2023 lows. The rally has coincided with the company announcing the availability of its novel PreHevbri Hepatitis B vaccine in the United Kingdom.
The vaccine is being used against all infections aided by all known types of the hepatitis B virus in adults and hepatitis D caused by the delta agent. The vaccine is available in the UK in a distribution partnership signed with Valneva last year.
It marks the first European market launch for the 2-antigen hepatitis B vaccine, which has seen increased use momentum in the US.
“We believe Valneva’s local commercial capabilities and relationships will be of significant value not only in this initial European launch, but also in the additional European markets where PreHevbri is expected to launch over the next several months,” said Jeff Baxter, President and CEO of VBI.
The availability of the PreHevbri vaccine in the UK should open the door for other European nations expected to further strengthen VBI Vaccines revenue streams. In the first quarter, revenues were up 90% quarter over quarter, helped by increased access to the vaccine across various US retail pharmacies.
Renalytix plc Secures FDA’s De Novo Marketing Authorization
Renalytix plc (NASDAQ: RNLX) is another Nasdaq momentum play showing signs of edging higher after a 40% plus rally from 2023 lows. The rally comes against the backdrop of the leader in bioprognosis™ for kidney health securing a De Novo marketing authorization from the Food and Drugs Administration.
The authorization covers KidneyIntelX.dkd, an artificial intelligence-powered prognostic test platform that helps guide care management for adults with type 2 diabetes. It is also finding use in the management of early-stage chronic diabetic kidney disease.
The FDA authorization is expected to increase the use and adoption of the platform for informing clinical guidelines and expanding insurance coverage. Adaptationally the authorization is expected to provide a roadmap for the future expansion of the platform into new indications and products.
KidneyIntelX.dkd stands out on stratifying patients into three low, moderate and high-risk levels, which helps provide comprehensive information on patient risk for decline in kidney function. Since its introduction, the platform has delivered results to over 10,000 patients in the United States, leading to broad insurance payments from Medicare and private payers.
Addentax Group Turns to AI Technology to Unlock Growth opportunities in Gaming
Addentax Group Corp (NASDAQ: ATXG), an integrated service provider focused on garment manufacturing, is up by more than 900% over the past few days. The strong momentum to the upside stems from the firm inking an agreement with various Games as a service firm to develop artificial intelligence online operation tools.
The agreements affirm ATXG’s push for growth around artificial intelligence, a technology that significantly influences various industries. The AI project that Addentax will work on with its partner’s centers on the use of technology to refine and update content within the online games industry.
The ultimate play is to provide tools that allow gaming companies to optimize their commercialization strategies, therefore, creating sustainable profitability. In addition, the gaming companies should be able to commercialize their strategies, creating sustainable profitability.
The diversification into the AI-focused sectors marks an important milestone in Addentax Group’s push to unlock more value in diverse sectors, including internet games and industrial applications.
“We expect that this strategy could potentially reposition our role and market presence in the AI landscape, unveiling untapped opportunities and driving substantial growth in the future,” Mr Hong Zhida, the Chairman and CEO of Addentax, stated.
