10 Penny Stocks That Will Skyrocket

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1. Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Stock Upside Potential as of July 30: 241.45%

Share Price as of July 30: $2.73

Number of Hedge Fund Holders: 37

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) is one of the penny stocks that will skyrocket. On July 15, Citizens JMP analyst Reni J. Benjamin reiterated a ‘Market Perform’ rating. The positive stance stems from the company delivering positive results from its real-world applications of Amtagvi therapy.

The test results showed a higher response rate than those observed in the C-144-01 trial. The results triggered accelerated approval for Amtagvi for advanced melanoma patients in the post-PD-1 setting. According to JMP Securities, the results demonstrate “remarkable potential” for TIL therapy post checkpoint therapy.

However, the research firm believes Iovance Biotherapeutics will need a significant capital infusion in the next six months to continue its operations. That’s because it ended the first quarter with $366 million in cash and an expected cash burn of $300 million.

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) is a biotechnology company focused on developing and commercializing novel cell therapies for the treatment of cancer. Its primary approach involves using tumor-infiltrating lymphocytes (TIL) therapy, which harnesses a patient’s immune cells to target and destroy cancer cells.

While we acknowledge the potential of IOVA 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 IOVA and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 9 Best AI Stocks to Buy According to Billionaire Stanley Druckenmiller and 11 Defensive Stocks Billionaires are Buying amid US Trade Tariff Uncertainty.

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