The Dow Jones closed lower by around 200 points on Thursday. 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: DiaMedica Therapeutics Inc. DMAC Director Michael Randall Giuffre bought a total of 67,228 shares at an average price of $1.20. To acquire these shares, it cost around $80.46 thousand.
- What’s Happening: DiaMedica Therapeutics, last month, posted a Q3 loss of $0.12 per share.
- What DiaMedica Therapeutics Does: DiaMedica Therapeutics Inc is a clinical-stage biopharmaceutical company.
- The Trade: OmniAb, Inc. OABI President and CEO Matthew Foehr acquired a total of 300,000 shares at an average price of $3.39. The insider spent around $1.02 million to buy those shares.
- What’s Happening: SVB Leerink recently initiated coverage on OmniAb with an Outperform rating and announced a price target of $6.
- What OmniAb Does: OmniAb offers best-in-class therapeutic antibody discovery technologies.
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- The Trade: Ballantyne Strong, Inc BTN 10% owner Ballantyne Strong Holdings, LLC acquired a total of 9,486 shares at an average price of $2.45. To acquire these shares, it cost around $23.2 thousand.
- What’s Happening: The company, last month, swung to a loss in the third quarter.
- What Ballantyne Strong Does: Ballantyne Strong Inc manufactures and distributes projection screens and provides technical support services and other related products and services to the cinema exhibition industry, theme parks, schools, museums, and other entertainment-related markets.
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