The Dow Jones settled higher on Tuesday after recording losses for four straight sessions. 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: BioCardia, Inc. BCDA 10% owner Frost Gamma Investments Trust bought a total of 595,238 shares at an average price of $1.68. To acquire these shares, it cost around $1 million.
- What’s Happening: BioCardia announced a $3.6 million private placement of common stock.
- What BioCardia Does: BioCardia Inc is a clinical stage regenerative medicine company. It is developing therapeutics for cardiovascular diseases with large unmet medical needs.
- The Trade: Nanophase Technologies Corporation NANX Director R. Janet Whitmore acquired a total of 10,788 shares at an average price of $1.10. The insider spent around $11.91 thousand to buy those shares.
- What’s Happening: The company delivered $9.7 million in Q3 revenue.
- What Nanophase Technologies Does: Nanophase Technologies Corp is a US-based company engaged in the production of engineered nanomaterial solutions and larger, sub-micron, materials such as personal care sunscreens, architectural coatings, industrial coating applications, and abrasion-resistant additives, plastics additives, medical diagnostics, energy.
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- The Trade: Corvus Pharmaceuticals, Inc. CRVS 10% owner William Benton Jones acquired a total of 20,000 shares at an average price of $0.79. To acquire these shares, it cost around $15.8 thousand.
- What’s Happening: Corvus Pharmaceuticals recently presented updated data from CPI-818 Phase 1/1b clinical trial at the 64th American Society of Hematology Annual Meeting & Exposition.
- What Corvus Pharmaceuticals Does: Corvus Pharmaceuticals Inc is a clinical-stage biopharmaceutical engaged in developing drugs and antibodies that target the most critical cellular elements of the immune system.
- The Trade: AquaBounty Technologies, Inc. AQB Director Erin Sharp acquired a total of 131,500 shares at an average price of $0.77. The insider spent $101.19 thousand to buy those shares.
- What’s Happening: The company, last month, reported downbeat quarterly sales.
- What AquaBounty Technologies Does: AquaBounty Technologies Inc is engaged in the field of land-based aquaculture and the use of technology for improving its productivity and sustainability.
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