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.
Tonix Pharmaceuticals
The Trade: Tonix Pharmaceuticals Holding Corp. TNXP CEO Seth Lederman acquired a total of 12000 shares at an average price of $0.61. To acquire these shares, it cost $7,320.00.
What’s Happening: Tonix Pharmaceuticals recently expanded its research collaboration with Columbia University to develop precision medicine techniques for COVID-19 vaccines and therapeutics.
What Tonix Pharmaceuticals Does: Tonix Pharmaceuticals Holding is a clinical-stage pharmaceutical company. The company is engaged in discovering, licensing, acquiring and developing drugs and biologics to treat and prevent human disease and alleviate suffering.
Leap Therapeutics
The Trade: Leap Therapeutics, Inc. LPTX 10% owner Beigene Ltd acquired a total of 2543800 shares shares at an average price of $2.85. The insider spent $7,249,830.00 to buy those shares.
What’s Happening: Leap Therapeutics recently announced a proposed public offering of common stock and pre-funded warrants.
What Leap Therapeutics Does: Leap Therapeutics is a biopharmaceutical company developing novel therapies designed to treat patients with cancer by inhibiting fundamental tumor-promoting pathways and by harnessing the immune system to attack cancer cells.
Live Current Media
The Trade: Live Current Media Inc. LIVC Director Amir Vahabzadeh acquired a total of 110083 shares at an average price of $0.15. To acquire these shares, it cost $16,516.53.
What’s Happening: The company’s shares have jumped more than 300% year-to-date
What Live Current Media Does: Live Current Media is a digital technology company involved in the entertainment industry.
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