Gold futures traded slightly higher on Tuesday. Investors, meanwhile, focused on some notable insider trades.
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.
- The Trade: TRACON Pharmaceuticals, Inc. TCON President and CEO Charles Theuer acquired a total of 5,000 shares at an average price of $1.97. To acquire these shares, it cost $9.85 thousand.
- What’s Happening: TRACON Pharmaceuticals posted a Q4 net loss of $7.7 million.
- What TRACON Pharmaceuticals Does: TRACON Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of novel targeted therapeutics for cancer and utilizing its cost efficient, contract research organization (CRO) independent product development platform to partner with ex-U.S. companies to develop and commercialize innovative products in the United States.
- The Trade: Standard BioTools Inc. LAB 10% owner Edward David Johnson acquired a total of 400,000 shares at an average price of $2.69. The insider spent around $1.08 million to buy those shares.
- What’s Happening: Standard BioTools is expected to report first quarter 2022 financial results on Thursday, May 5, 2022.
- What Standard BioTools Does: Standard BioTools Inc, formerly Fluidigm Corp manufactures life science tools focused on the analysis of single cells and industrial applications of genomics.
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- The Trade: Quantum Energy, Inc. QEGY CFO William Westbrook acquired a total of 44,000 shares at an average price of $0.30. To acquire these shares, it cost around $13.16 thousand.
- What’s Happening: The company’s shares have dropped 15% since the start of the year.
- What Quantum Energy Does: Quantum Energy Inc is a development stage diversified holding company with an emphasis on land holdings, refinery, and fuel distribution. Geographically it holds a presence in the United States and Canada.
- The Trade: Nuo Therapeutics, Inc. AURX 10% owner Charles E Sheedy acquired a total of 804,868 shares at an average price of $1.00. The insider spent $804.87 thousand to buy those shares.
- What’s Happening: The company recently entered into an agreement to acquire the Reward Project, located just seven miles from the Company's Bullfrog Project in Nevada.
- What Nuo Therapeutics Does: Nuo Therapeutics Inc is a biomedical company that pioneers edge biodynamic therapies within the emerging opportunities of a changing healthcare landscape.
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