In this piece, we will discuss the 10 Most Active Penny Stocks to Buy.
The 2026 Iran conflict has resulted in a spike in volatility across markets, with the conflict expected to persist amid escalating geopolitical tensions. The broader investor sentiment is showing risk aversion as markets have noted significant declines since the start of the armed conflict on February 28, 2026, Forbes reports on March 15, 2026. The S&P 500 fell by 3.5% and international equities declined 8.3% during this period.
Meanwhile, oil prices, which remain important for the overall market dynamics, continue to influence investor sentiment. From the pre-conflict level of $67 per barrel, WTI crude oil surged to nearly $100 per barrel on March 13, 2026. While this surge has driven a 3.2% rise in energy stocks, broader equities remain under pressure.
At the same time, inflation concerns and challenges in consumer-facing sectors continue to intensify amid rising gasoline prices, which have risen from $2.98 to $3.68 per gallon.
Amid this uncertain macroeconomic backdrop, Forbes notes that prediction markets now indicate a 34% chance of a 2026 recession, up from 22% before the start of the Iran conflict. On the positive side, it also reported a historical analysis of 29 geopolitical events, which suggests market recovery historically occurs within a month. This highlights that volatility can create selective opportunities even in uncertain periods.
With this background in mind, we will turn our focus to our list of the most active penny stocks. Increased trading activity in these stocks can indicate rising investor interest based on news flow or speculation. Indeed, these stocks carry higher risk, but they may offer good opportunities for investors who are looking to invest in high-activity segments despite volatility.
Methodology
To identify the 10 most active penny stocks to buy, we used a stock screener to filter stocks trading under $5 with an average trading volume above 2 million shares. These stocks were then sorted by volume to highlight the most actively traded.
Next, we ranked these stocks using Q4 2025 hedge fund data from Insider Monkey to identify the stocks with the highest institutional interest. The stocks below are ranked according to the number of hedge fund holders. Furthermore, these stocks have significant analyst coverage.
Note: Data extracted as of March 16, 2026.
10. Allogene Therapeutics, Inc. (NASDAQ:ALLO)
Allogene Therapeutics, Inc. (NASDAQ:ALLO) is one of the 10 most active penny stocks to buy.
On March 13, 2026, Biren Amin, an analyst at Piper Sandler, maintained an “Overweight” rating on Allogene Therapeutics, Inc. (NASDAQ:ALLO) and increased the price target of the stock from $7 to $8.
Amin noted increased anticipation surrounding the company’s upcoming clinical catalyst. The interim analysis of the Phase 2 ALPHA3 study, which is assessing cemacabtagene ansegedleucel (cema-cel) as a first-line consolidation therapy for large B-cell lymphoma, remains the primary focus of investors, according to Amin. The data, which is anticipated to be released in April 2026, will evaluate the clearance of minimal residual disease (MRD). Piper believes that the setup is auspicious for cema-cel to achieve a 25%–30% MRD clearance advantage over observation.
The positive news follows Allogene Therapeutics, Inc. (NASDAQ:ALLO)’s March 12, 2026, fourth-quarter and full-year 2025 update, which identified the ALPHA3 trial as a potential inflection point for its allogeneic CAR-T platform. The trial will recruit more than 60 locations worldwide and will evaluate whether early MRD-guided treatment can prevent lymphoma relapse.
Regarding the company’s financials, Allogene Therapeutics, Inc. (NASDAQ:ALLO) reported a Q4 2025 net loss of $38.81 million, or $0.17 per share, and completed the year with $258.30 million in cash, extending its runway into Q1 2028. The company is also progressing programs such as ALLO-329 in autoimmune diseases.
Allogene Therapeutics, Inc. (NASDAQ:ALLO) is a clinical-stage biotechnology company dedicated to the development of off-the-shelf allogeneic CAR-T cell therapies for cancer and autoimmune diseases. The company’s goal is to provide a scalable, readily available cell therapy derived from healthy donors.
9. Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)
Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) is one of the 10 most active penny stocks to buy.
Analyst sentiment toward Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) remains constructive. With 73% of covering analysts retaining bullish ratings, the consensus price target of $9.50 suggests a potential upside of 135.15% as of March 16, 2026.
On March 11, 2026, at the Barclays 28th Annual Global Healthcare Conference, Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) presented its expansion strategy. The company outlined its ambitions to advance pipeline products in lung cancer and sarcoma while expanding the U.S. rollout of its melanoma drug, Amtagvi.
Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) reported a 50% gross margin in the fourth quarter and stated that Amtagvi could generate at least $1 billion in peak U.S. sales. As manufacturing moves in-house, further improvements are expected. The response rate in real-world data was 44%, which was higher than the 31% rate in its pivotal trial, and surpassed 50% when used earlier in treatment.
Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) also reported early progress in sarcoma, with three out of six patients responding in an initial study, a rate significantly higher than the historical response rate of less than 5%. Regulatory decisions for Amtagvi in the United Kingdom and Australia are anticipated in the first half of 2026, while a registrational trial is scheduled for the second quarter of 2026.
Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) is a biopharmaceutical company that specializes in developing tumor-infiltrating lymphocyte (TIL) cell therapies for cancer. One of its products, Amtagvi, is an autologous immunotherapy that uses patients’ immune cells to combat malignancies.
8. Bumble Inc. (NASDAQ:BMBL)
Bumble Inc. (NASDAQ:BMBL) is one of the 10 most active penny stocks to buy.
On March 12, 2026, Wall Street maintained a cautious outlook on Bumble Inc. (NASDAQ:BMBL), balancing the company’s potential for profitability against its ongoing user and growth challenges.
Specifically, Wells Fargo maintained an “Equal Weight” rating and reduced the stock’s price target from $5.50 to $5.00. The investment firm emphasized that the company’s EBITDA in the fourth quarter and early in the first quarter was stronger than anticipated due to reduced marketing expenditures and alternative payment channels.
Nevertheless, Wells Fargo noted that Bumble Inc. (NASDAQ:BMBL) is increasingly signaling that the development of new products and reinvestment in marketing are potential sources of revenue growth in 2027. However, by the latter half of 2026, investors will be closely watching the company for early traction.
Issuing a bearish outlook on the stock, Omar Dessouky, a Bank of America analyst, maintained an “Underperform” rating on Bumble Inc. (NASDAQ:BMBL) and trimmed the firm’s price target from $3.50 to $3.30. The analyst acknowledged the evidence of early stabilization. However, he cautioned that 2026 will likely be a transition year as the company works to reverse declining payer trends and achieve sustainable growth.
Bumble Inc. (NASDAQ:BMBL) is a global online dating platform that emphasizes women initiating the conversation. The Austin-based company, which was established in 2014, provides applications that are designed to facilitate connections in the areas of dating, companionship, and networking.
7. JetBlue Airways Corporation (NASDAQ:JBLU)
JetBlue Airways Corporation (NASDAQ:JBLU) is one of the 10 most active penny stocks to buy.
In response to rising fuel prices, analysts are reassessing their forecasts for JetBlue Airways Corporation (NASDAQ:JBLU) despite comparatively stable travel demand.
On March 16, 2026, UBS analyst Atul Maheswari lowered the firm’s price target from $4 to $3.50. He attributed the rise in airline uncertainty to fuel price volatility. According to the analyst, first-quarter performance is likely to be in line with the midpoint of prior forecasts, with several carriers expected to preannounce results soon.
Despite the potential pressure on margins from the early-March increase in fuel costs, JetBlue Airways Corporation (NASDAQ:JBLU)’s modest inventory exposure may lessen the impact on earnings. Meanwhile, revenue per available seat mile may continue to be supported by strong demand trends. Furthermore, UBS warned that due to continued uncertainty in fuel prices, some airlines may halt their full-year 2026 guidance.
In reaction to similar concerns, Evercore ISI analyst Duane Pfennigwerth lowered JetBlue Airways Corporation’s (NASDAQ: JBLU) price target from $6 to $5 on March 12, 2026. This reflects updated forecasts across airline coverage to account for rising fuel costs, which were slightly offset by more robust revenue assumptions. Accordingly, the firm maintained an “In Line” rating.
JetBlue Airways Corporation (NASDAQ:JBLU) is a U.S. airline that offers passenger transportation through brands such as JetBlue, JetBlue Vacations, Paisly, and TrueBlue. The company serves domestic, Caribbean, Latin American, Canadian, and transatlantic markets.
6. Enovix Corporation (NASDAQ:ENVX)
Enovix Corporation (NASDAQ:ENVX) is one of the 10 most active penny stocks to buy.
Analysts are optimistic about Enovix Corporation (NASDAQ:ENVX)’s long-term battery technology potential, despite the risks associated with near-term commercialization.
According to Bank of America analyst Ruplu Bhattacharya, Enovix Corporation (NASDAQ:ENVX) is leading the charge in next-generation high-energy-density lithium-ion batteries. He initiated coverage on March 12, 2026, with a “Neutral” rating and a $6 price target.
The analyst highlighted Enovix Corporation (NASDAQ:ENVX)’s efforts to commercialize a 100% silicon-anode battery capable of providing greater energy capacity in smaller devices such as defense applications, smartphones, and smart eyewear.
However, Enovix Corporation (NASDAQ:ENVX) warns that the potential is limited amid manufacturing difficulties, long qualification cycles for smartphones, and anticipated negative margins and cash flow in the coming years as the company continues to invest in growing production.
The broader sentiment on Wall Street is still positive despite these concerns.
A consensus price target of $12.50 suggests a potential upside of about 146.55%, with nearly 73% of analysts covering the stock maintaining bullish ratings on Enovix Corporation (NASDAQ:ENVX).
Enovix Corporation (NASDAQ:ENVX) is a developer of silicon-anode lithium-ion batteries that utilize a proprietary 3D cell architecture to enhance energy density and cycle life. The company’s primary markets include consumer electronics, defense, electric vehicles, and energy storage.
While we acknowledge the potential of ENVX to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ENVX and that has 100x upside potential, check out our report about the cheapest AI stock.
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