The Nasdaq Composite index jumped by more than 300 points 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.3
- The Trade: Lannett Company, Inc. LCI Director Patrick Lepore acquired a total of 50,000 shares at an average price of $0.54. To acquire these shares, it cost $27 thousand.
- What’s Happening: Lannett entered into an agreement with Areva Pharmaceuticals to be the exclusive the U.S. distributor of fludarabine phosphate for Injection, USP, 50 mg/2mL, single-dose vials.
- What Lannett Does: Lannett Co Inc develops, manufactures, packages, markets, and distributes generic versions of brand pharmaceutical products.
- The Trade: Compass Therapeutics, Inc. CMPX CEO Thomas J Schuetz acquired a total of 20,215 shares at an average price of $2.47. The insider spent around $49.93 thousand to buy those shares.
- What’s Happening: Compass Therapeutics recently posted Q1 EPS of $(0.07).
- What Compass Therapeutics Does: Compass Therapeutics Inc is a clinical-stage biopharmaceutical company that develops proprietary antibody therapeutics intended to engage the immune system to treat both solid tumors and hematological malignancies.
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- The Trade: Transocean Ltd. RIG 10% owner Perestroika acquired a total of 2,000,000 shares at an average price of $3.75. To acquire these shares, it cost around $7.5 million.
- What’s Happening: The company recently posted a loss for the first quarter.
- What Transocean Does: Transocean Ltd commands one of the largest deep-water and ultra-deep-water fleets in the world. Its rigs operate globally, but the major deep-water basins are in West Africa, Brazil, and the Gulf of Mexico.
- The Trade: NN, Inc. NNBR 10% owner Hjalmar Eric Soderlund acquired a total of 564,188 shares at an average price of $2.38. The insider spent $1.34 million to buy those shares.
- What’s Happening: The company recently posted upbeat quarterly sales.
- What NN Does: NN Inc is a diversified industrial company that combines advanced engineering and production capabilities with in-depth materials science expertise to design and manufacture high-precision solutions and components.
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