In this article, we will list the 5 Best High Volume Penny Stocks to Buy Now. Please visit 11 Best High Volume Penny Stocks to Buy Now if you would like to see the extended list and the methodology behind it.

5. Fractyl Health, Inc. (NASDAQ:GUTS)

On March 17, 2026, H.C. Wainwright maintained a Buy rating on Fractyl Health, Inc. (NASDAQ:GUTS) with an $8 price target, addressing a sharp selloff following the company’s January data release. The firm said the update triggered a 65% decline in the shares as investors focused on “critical friction points,” including a lack of statistical significance and weight-regain trends. H.C. Wainwright, however, said the results remain consistent with prior Revita data and advised investors to “take a breath,” pointing to a potential pivotal readout in Q4 that could position Revita as a treatment option after GLP-1 therapy discontinuation.

On February 26, 2026, Fractyl Health, Inc. (NASDAQ:GUTS) announced completion of participant randomization in its REMAIN-1 pivotal cohort, a double-blind study evaluating Revita for weight maintenance following GLP-1 discontinuation. CEO Harith Rajagopalan said the milestone marks an “important” step toward generating definitive clinical evidence, noting the study was designed to demonstrate Revita’s effect. Rajagopalan added that prior data and ongoing studies have informed confidence in the program as the company prepares to report topline six-month results in early Q4 2026.

Fractyl Health, Inc. (NASDAQ:GUTS) develops therapies targeting metabolic diseases, including type 2 diabetes and obesity, with its Revita system designed to address duodenal dysfunction.

4. Tenaya Therapeutics, Inc. (NASDAQ:TNYA)

On March 12, 2026, Tenaya Therapeutics, Inc. (NASDAQ:TNYA) reported Q4 EPS of (12c), in line with the (12c) consensus estimate. CEO Faraz Ali said the company is entering the year with “momentum” following clinical progress in 2025, highlighting encouraging data from its lead gene therapy programs. Ali noted that Tenaya expects to provide additional updates in the first half of 2026, including longer-term data from the MyPEAK-1 trial of TN-201 and new data from the RIDGE-1 trial of TN-401, while also working toward regulatory alignment on pivotal trial plans.

On March 9, 2026, Tenaya Therapeutics, Inc. (NASDAQ:TNYA) presented preclinical data for TN-301, its selective HDAC6 inhibitor, at the Muscular Dystrophy Association’s Clinical & Scientific Conference 2026. In models of Duchenne muscular dystrophy, TN-301 improved muscle performance and addressed markers of muscle injury, including reductions in creatine kinase activity. The compound also showed improvements in cardiac-related cellular function, including correcting calcium handling abnormalities and mitochondrial dysfunction in human-derived cardiomyocytes.

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) develops gene and small molecule therapies targeting heart disease, with programs focused on cardiomyopathies and heart failure.

3. Payoneer Global Inc. (NASDAQ:PAYO)

On March 11, 2026, Payoneer Global Inc. (NASDAQ:PAYO) announced a strategic collaboration with FundPark to expand financing access for eligible e-commerce businesses in Hong Kong. The partnership will allow FundPark to offer its AI-driven digital financing solutions to Payoneer customers to support their global expansion.

On March 6, 2026, Benchmark lowered its price target on PAYO to $7 from $10 and maintained a Buy rating. Benchmark said investor focus on declining interest income from customer funds has overshadowed improving fundamentals, noting the stock has “languish near multi-year lows” despite steady growth, strong cash flow generation, and continued expansion in the global payments ecosystem.

On February 26, 2026, Payoneer reported Q4 EPS of 5c, in line with the 5c reported last year. Revenue totaled $274.69M compared with the $282.39M consensus estimate. CEO John Caplan said the company delivered “record results” in 2025, surpassing $1B in annual revenue while generating profitability and free cash flow. Caplan added that Payoneer is shifting its strategy upmarket to serve more complex SMB and SME needs while investing in an AI-first approach to improve product delivery and customer engagement.

Payoneer Global Inc. (NASDAQ:PAYO) provides financial technology solutions for cross-border payments, offering multi-currency accounts and payment infrastructure for global businesses.

2. Immunic, Inc. (NASDAQ:IMUX)

On March 10, 2026, Immunic, Inc. (NASDAQ:IMUX) announced that the European Patent Office granted a key patent covering label-relevant dosing regimens for its lead asset, vidofludimus calcium. The patent is expected to protect Europe through 2038 and may be eligible for a Supplementary Protection Certificate, which could extend exclusivity to as late as 2043.

Immunic, Inc. (NASDAQ:IMUX) noted that the claims broadly cover vidofludimus and its salt, solvate, and free acid forms across all label-relevant dosing regimens, meaning protection is not limited to a single formulation and may extend to alternative forms used according to the approved label. The patent had previously been granted in the United States in 2023.

On March 2, 2026, H.C. Wainwright lowered its price target on Immunic, Inc. (NASDAQ:IMUX) to $5 from $8 previously and maintained a Buy rating after updating its model.

Immunic, Inc. (NASDAQ:IMUX) develops oral immunology therapies targeting chronic inflammatory and autoimmune diseases, including multiple sclerosis and ulcerative colitis.

1. Ocugen, Inc. (NASDAQ:OCGN)

On March 17, 2026, Canaccord initiated coverage of Ocugen, Inc. (NASDAQ:OCGN) with a Buy rating and a $12 price target, citing the company’s three clinical-stage programs in retinal diseases and describing early data as “interesting.” Canaccord added that the upcoming Q3 data could serve as a “de-risking event” as those programs advance.

On March 11, 2026, Oppenheimer initiated coverage of OCGN with an Outperform rating and a $10 price target, viewing the company as an emerging gene therapy player in ocular disorders. Oppenheimer pointed to OCU400, currently in Phase 3 for retinitis pigmentosa, and said a potential 2027 approval could provide entry into a “sizable and poorly-met” rare disease market. Meanwhile, Lucid Capital analyst Elemer Piros raised the price target on OCGN to $22 from $15 and maintained a Buy rating following positive preliminary Phase 2 data for OCU410 in geographic atrophy.

On March 4, 2026, OCGN reported Q4 EPS of (6c), in line with the (6c) consensus estimate. CEO Dr. Shankar Musunuri described 2025 as a “transformative year,” highlighting progress across its gene therapy programs alongside licensing and financing agreements that strengthened the company’s position. Musunuri added that Ocugen is approaching the first of three planned BLA filings as it advances its pipeline.

Ocugen, Inc. (NASDAQ:OCGN) develops gene and cell therapies, biologics, and vaccines focused on improving patient outcomes.

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

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