US Penny Stocks to Watch in November 2024

Operations: The company generates $12.87 million in revenue through its focus on developing adeno-associated virus-based therapies for rare monogenic diseases.

Market capitalization: $307.41 million

Taysha Gene Therapies, Inc., with a market capitalization of $307.41 million, operates in the biotech penny stock sector and remains ahead of sales, although it reported sales of $1.11 million in the second quarter of 2024 compared to $2.4 million in the previous year. The company has enough liquidity to last more than a year and has more cash than its total debt, providing some financial stability despite ongoing losses – it reported a net loss of $20.93 million for the second quarter of 2024, compared with $24.6 million last year. Shareholder dilution recently occurred and inclusion in the S&P Global BMI Index marks an important milestone.

Simply Wall St Financial Health Rating: ★★★★★☆

Overview: Granite Point Mortgage Trust Inc. is a real estate investment trust focused on originating, investing and servicing senior adjustable-rate commercial mortgage loans and other debt-related commercial real estate investments in the United States with a market capitalization of approximately $157.37 Million.

Operations: Granite Point Mortgage Trust’s revenue segment is based primarily on its REIT mortgage business and reports revenue of -$140.09 million.

Market capitalization: $157.37 million

Granite Point Mortgage Trust, with a market cap of $157.37 million, is currently unprofitable and reported a net loss of $31.02 million for the third quarter of 2024, down from $20.94 million a year ago. Still, the company has a strong liquidity position with $2.2 billion in current assets exceeding both short- and long-term liabilities, providing a liquidity reserve for more than three years, even if free cash flow is annual shrinks slightly. The company’s high net debt to equity ratio remains a concern. However, recent management changes and an increased share repurchase plan could indicate future strategic adjustments.

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This article from Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts using only an unbiased methodology and our articles are not intended as financial advice. It does not constitute a recommendation to buy or sell any stock and does not take into account your objectives or financial situation. Our goal is to provide you with long-term focused analysis based on fundamental data. Note that our analysis may not reflect the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies covered in this article include NasdaqCM:BTM, NasdaqGS:TSHA and NYSE:GPMT.

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