The Dow Jones tumbled by over 500 points on Friday. 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: Aeglea BioTherapeutics, Inc. AGLE Director Marcio Souza bought a total of 90,000 shares at an average price of $0.56. To acquire these shares, it cost around $50.47 thousand.
- What’s Happening: Aeglea BioTherapeutics recently announced a leadership transition and corporate restructuring to focus resources on AGLE-177 in development for Homocystinuria, an inherited disorder in which the body is unable to process certain building blocks of proteins (amino acids ) properly.
- What Aeglea BioTherapeutics Does: Aeglea BioTherapeutics Inc is a clinical-stage biotechnology company. It designs and develops innovative human enzyme therapeutics for patients with rare genetic diseases and cancer.
- The Trade: OppFi Inc. OPFI CEO Todd G Schwartz acquired a total of 19,728 shares at an average price of $2.56. The insider spent around $50.47 thousand to buy those shares.
- What’s Happening: The company recently posted upbeat Q2 results.
- What OppFi Does: OppFi Inc is a financial technology platform that powers banks to help the everyday consumer gain access to credit.
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- The Trade: Paltalk, Inc. PALT Director, CEO, President, COO & Chairman Jason Katz acquired a total of 15,000 shares at an average price of $1.79. To acquire these shares, it cost around $26.85 thousand.
- What’s Happening: The company recently reported downbeat quarterly results.
- What Paltalk Does: Paltalk Inc is a communications software innovator. It operates a network of consumer applications where users can meet, see, chat, broadcast and message in real-time in a secure environment with others in the network.
- The Trade: Astrotech Corporation ASTC 10% owner Braden Michael Leonard acquired a total of 479,322 shares at an average price of $0.46. The insider spent $218.9 thousand to buy those shares.
- What’s Happening: Astrotech is scheduled to hold its fiscal year 2022 annual meeting of stockholders on Tuesday, November 15, 2022.
- What Astrotech Does: Astrotech Corp is a science and technology development company.
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