The Nasdaq Composite dropped by around 175 points on Wednesday. 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: Cognition Therapeutics, Inc. CGTX 10% owner BIOS Fund II QP, LP bought a total of 1,500,000 shares at an average price of $1.20. To acquire these shares, it cost around $1.8 million.
- What’s Happening: Cognition Therapeutics posted a Q3 loss of $0.29 per share.
- What Cognition Therapeutics Does: Cognition Therapeutics Inc is a clinical-stage biopharmaceutical company engaged in the discovery and development of innovative, small molecule therapeutics targeting age-related degenerative diseases and disorders of the central nervous system and retina.
- The Trade: Hyliion Holdings Corp. HYLN CFO Jon Panzer acquired a total of 25,000 shares at at an average price of $3.12. The insider spent around $78.09 thousand to buy those shares.
- What’s Happening: Hyliion Holdings recently reported a Q3 loss of $0.36 per share.
- What Hyliion Holdings Does: Hyliion Holdings Corp produces electrified powertrain systems for commercial vehicles.
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- The Trade: Heritage Insurance Holdings, Inc. HRTG CEO Ernie J Garateix acquired a total of 10,250 shares at an average price of $1.39. To acquire these shares, it cost around $14.25 thousand.
- What’s Happening: Heritage Insurance recently posted a Q3 loss of $1.83 per share.
- What Heritage Insurance Does: Heritage Insurance Holdings Inc is a regional property and casualty insurance company that offers a variety of personal and commercial insurance products.
- The Trade: Vapotherm, Inc. VAPO Director Anthony Arnerich acquired a total of 30,000 shares at an average price of $0.56. The insider spent $16.72 thousand to buy those shares.
- What’s Happening: Vapotherm recently reported worse-than-expected Q3 results.
- What Vapotherm Does: Vapotherm Inc is a medical technology company based in the United States.
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