More Than $40 Million Bet On This Penny Stock? Check Out These 3 Penny Stocks Insiders Are Buying

U.S. gold futures traded higher this morning 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

Pitney Bowes

• The Trade: Pitney Bowes Inc. PBI EVP & Chief Innovation Officer James Fairweather bought a total of 4,335 shares at an average price of $3.42. To acquire these shares, it cost around $14.82 thousand.
• What’s Happening: Pitney Bowes and Narvar have established a joint partnership to help retail brands streamline their processes for merchandise returns.
• What Pitney Bowes Does: Pitney Bowes is a global technology company that offers e-commerce solutions to its clients.

Lexicon Pharmaceuticals

• The Trade: Lexicon Pharmaceuticals, Inc. LXRX 10% owner Invus Advisors LLC acquired a total of 16,173,800 shares at an average price of $2.50. The insider spent around $40.43 million to buy those shares.
• What’s Happening: Lexicon Pharmaceuticals is expected to release its Q2 financial results on Tuesday, August 2, 2022 after the markets close.
• What Lexicon Pharmaceuticals Does: Lexicon Pharmaceuticals Inc is a biopharmaceutical company. It is engaged in the discovery, development and commercialization of pharmaceutical products for the treatment of human disease.

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Flotek Industries

• The Trade: Flotek Industries, Inc. FTK CEO and President John Gibson Jr acquired a total of 4,000 shares at an average price of $1.08. To acquire these shares, it cost around $4.32 thousand.
• What’s Happening: Flotek recently said it sees preliminary Q2 sales over $28 million.
• What Flotek Industries Does: Flotek Industries Inc delivers chemistry-based technology solutions for energy, industrial, and consumer applications.