$1.6M Bet On ATAI Life Sciences? Check Out These 4 Penny Stocks Insiders Are Buying

The Dow Jones closed higher by more than 300 points on Wednesday. When insiders purchase or sell shares, it indicates their confidence or concern around the company's prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.

Below is a look at a few recent notable insider transactions for penny stocks. For more, check out Benzinga's insider transactions platform.

Paratek Pharmaceuticals

• The Trade: Paratek Pharmaceuticals, Inc. (NASDAQ:PRTK) 10% owner James D Dondero acquired a total 788,500 shares an average price of $1.63. To acquire these shares, it cost around $1.28 million.
• What’s Happening: Paratek Pharmaceuticals posted a Q4 loss of $0.13 per share.
• What Paratek Pharmaceuticals Does: Paratek Pharmaceuticals Inc is a clinical-stage biopharmaceutical company.

Atai Life Sciences

• The Trade: Atai Life Sciences N.V. (NYSE:ATAI) 10% owner Christian Angermayer acquired a total of 1,214,297 shares at an average price of $1.32. The insider spent around $1.6 million to buy those shares.
• What’s Happening: Net loss attributable to shareholders for the three months ended December 31, 2022 was $45.0 million, versus a year-ago loss of $88.9 million.
• What Atai Life Sciences Does: ATAI Life Sciences NV is a clinical-stage biopharmaceutical company aiming to transform the treatment of mental health disorders.

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Inozyme Pharma

• The Trade: Inozyme Pharma, Inc. (NASDAQ:INZY) Director Robert Hopfner acquired a total of 207,840 shares at an average price of $4.05. To acquire these shares, it cost around $841.06 thousand.
• What’s Happening: Inozyme posted a FY22 net loss of $1.78 per share.
• What Inozyme Pharma Does: Inozyme Pharma Incclinical-stage rare disease biopharmaceutical company developing novel therapeutics for the treatment of diseases impacting the vasculature, soft tissue and skeleton.

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TMC the metals company

• The Trade: TMC the metals company Inc. (NASDAQ:TMC) CEO Gerard Barron acquired a total of 35,000 shares at an average price of $0.71. The insider spent $25 thousand to buy those shares.
• What’s Happening: TMC The Metals posted a Q4 loss of $0.41 per share.
• What TMC the metals company Does: TMC The Metals Co Inc is a deep-sea minerals exploration company focused on the collection, processing and refining of polymetallic nodules found on the seafloor in international waters of the Clarion Clipperton Zone.