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3 Penny Stocks To Buy Under $3 On Robinhood In April 2021

Provided By PennyStocks.com

Last update: Apr 5, 2021

Will These Penny Stocks Keep Climbing In April?

Penny stocks are starting to heat up again. The last few weeks were touch and go as markets tried to figure out which direction they wanted to head. Concerns over inflation and rates combated by upbeat sentiment about stimulus and the reopening trade maintained some semblance of status quo. By the end of the week, benchmark ETFs like the Russell 2000 Small-Cap Index ETF (NYSE: IWM) and the S&P 500 ETF (NYSE: SPY) both bounced back from late-March lows.

While volume in the IWM was still slightly lower than normal, the SPY surged as retail traders piled back into growth stocks. Obviously, the Robinhood community & social media platforms like Reddit have helped give markets a boost. Furthermore, some economic news while the market was closed Friday could help sentiment heading into the week.

The Labor Department said that employers added 916,000 jobs in March. This was up from 416,000 in February and the most since August. These beat expectations by 241,000. February’s gains were revised higher by 89,000 as well, to 468,000.

Robinhood Penny Stocks To Buy Under $3

One of the most populous groups of traders driving momentum right now is the Robinhood community. But since most penny stocks on Robinhood only trade on the NYSE and Nasdaq, choices may be limited. Though there may not be many stocks under $1 to buy, there are many higher-priced penny stocks to buy. Here are 3 trending names still under $3. Just because they’re cheap, are they going to be worth the risk?

  1. Millendo Therapeutics Inc. (NASDAQ: MLND)
  2. Savara Inc. (NASDAQ: SVRA)
  3. Timber Pharmaceuticals Inc. (NYSE: TMBR)

Millendo Therapeutics Inc.

Millendo Therapeutics just had a large drop off in stock price. What is interesting about MLND stock is that it is already on the way back up. On March 29th, Millendo announced a proposed merger agreement with Tempest Therapeutics. This merger would advance Tempest’s oncology pipeline, and $30 million in concurrent PIPE financing is expected to close with the merger.

“We are very pleased to announce this proposed merger with Millendo Therapeutics, which will facilitate the advancement of our broad pipeline of targeted oncology programs, including TPST-1495 and TPST-1120, which are both progressing in the clinic with encouraging early signs of clinical benefit.”

Tom Dubensky Ph.D., CEO of Tempest stated.

After this merger was announced, Halper Sadeh LLP announced an investigation into if this merger was fair to shareholders. This news seems to have not affected MLND stock in a bad way for the time being. In fact, on April 1st, MLND stock closed just shy of $1.30, up from lows of $1.17 the previous day. If Tempest fully takes over Millendo, it will be interesting to see what happens to its stock price.

penny stocks to buy on Robinhood Millendo Therapeutics Inc. MLND stock chart

Savara Inc.

Now let’s talk about Savara Inc, a biotech penny stock that has recently made bigger moves in the market. The healthcare company focuses on treating orphan lung diseases, such as autoimmune pulmonary alveolar proteinosis – aPAP. On March 15th, Savara closed a public offering of 57,479,978 shares for $130 million gross proceeds. The intention is to use the proceeds as working capital for clinical development, manufacturing, and trial progression.

[Read More] Best Penny Stocks to Buy Right Now? 3 To Watch As Biotech Rebounds

This public offering announcement resulted in SVRA stock price going from $1.70 a share to $2.65 a share in a single day. In particular, the company’s lead program, molgramostim, an inhaled granulocyte-macrophage colony-stimulating factor, is in Phase 3 development for aPAP. In a prior update, management made mention that it expects the trial to start in the second quarter of 2021. Sof if SVRA is on your list of penny stocks to watch right now, keep this potential catalyst in mind.

Another thing to note is that analysts remain bullish on the stock. Piper Sandler started covering SVRA last month. The firm issued an Overweight rating and a price target of $7. This came just a few months after H.C. Wainwright analysts boosted their price target to $6 from $4. It maintains a Buy rating on the stock.

penny stocks to buy on Robinhood Savra Inc. SVRA stock chart

Timber Pharmaceuticals Inc.

Timber Pharmaceuticals is a healthcare company that focuses on medical dermatology. It will develop and commercialize various treatments for orphan dermatologic diseases. Timber just provided a new business update last week, giving a progress update. Company CEO John Koconis explained, “Timber continued to make progress on all fronts in the fourth quarter, reflecting the Company’s lean operating structure and focus on cost containment.”

The company now believes it is on “firmer financial ground” to achieve its strategic goals. It will be interesting to see how its Phase 2b CONTROL studies go for TMB-001 and TMB-002. TMB-001 is being studied for the treatment of moderate to severe subtypes of congenital ichthyosis, a type of skin disease, with TMB-002 being studied for effects on facial angiofibromas in tuberous sclerosis complex, a type of facial lesion. Topline data readout is expected in the third quarter and an End-of-Phase 2 meeting with the FDA in the fourth quarter. Earlier last month, AFT Pharmaceuticals entered a licensing agreement with Timber Pharmaceuticals for Pascomer (TMB-002) in Europe.

In the last 5 days, TMBR stock price has gone up more than 20% in the market. Looking ahead, this month will have an upcoming date to keep track of. Timber set April 12, 2021, as the record date for the Annual Meeting.  Sometimes, leading up to important dates, the market for certain penny stocks can become a bit volatile.

penny stocks to buy on Robinhood Timber Pharmaceuticals TMBR stock chart

Penny Stocks On Robinhood

Thanks to the millions of new traders that have flocked to apps like Robinhood during the pandemic, retail trading has influenced the market more in 2021. While many of these stocks have jumped up big, volatility remains a big factor in capitalizing on these market opportunities. If you’re new to day trading, in general, make sure you’ve got a handle on risk/reward as it relates to your personal tolerance for big price swings. If you’re looking for more info on how to day trade, you can also check out some of these articles:

  • Penny Stocks, How To Buy Them & Day Trading Basics For 2021
  • Best Penny Stock Brokers For Trading & Investing In 2021
  • Penny Stocks & Frequently Asked Questions From New Traders

SPDR S&P 500 ETF TRUST

NYSEARCA:SPY (7/14/2025, 1:59:09 PM)

624.745

+1.13 (+0.18%)


SAVARA INC

NASDAQ:SVRA (7/14/2025, 1:56:38 PM)

2.49

+0.1 (+4.18%)


ISHARES RUSSELL 2000 ETF

NYSEARCA:IWM (7/14/2025, 1:59:10 PM)

222.7

+1 (+0.45%)



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