The Dow Jones settled slightly higher 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.
Great Elm Group
- The Trade: Great Elm Group, Inc. GEG 10% owner Long Ball Partners LLC bought a total of 9,494 shares at an average price of $1.99. To acquire these shares, it cost around $18.94 thousand.
- What’s Happening: Great Elm Group, last month, posted a Q1 loss of $0.29 per share.
- What Great Elm Group Does: Great Elm Group Inc operates as a holding company. The company operates in two business lines including durable medical equipment and investment management.
- The Trade: GlycoMimetics, Inc. GLYC Chief Medical Officer Edwin Rock acquired a total of 110,000 shares at an average price of $2.25. The insider spent around $247.5 thousand to buy those shares.
- What’s Happening: GlycoMimetics recently said new uproleselan clinical data in both frontline unfit and treated secondary acute myeloid leukemia was presented at ASH Annual Meeting.
- What GlycoMimetics Does: GlycoMimetics Inc is a clinical stage biotechnology company. It is focused on the discovery and development of novel glycomimetic drugs to address unmet medical needs resulting from diseases in which carbohydrate biology plays a key role.
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- The Trade: OncoCyte Corporation OCX Director Alfred D Kingsley acquired a total of 25,000 shares at an average price of $0.29. To acquire these shares, it cost around $7.12 thousand.
- What’s Happening: Oncocyte recently announced an over 40% reduction of its workforce to realign the team towards key products that address larger markets.
- What OncoCyte Does: OncoCyte Corp focuses on the discovery, development, and commercialization of novel, non-invasive, liquid biopsy diagnostics for the early detection of cancer.
- The Trade: Iveda Solutions, Inc. IVDA Director Joseph A. Farnsworth acquired a total of 4,200 shares at an average price of $0.60. The insider spent $2.5 thousand to buy those shares.
- What’s Happening: Iveda, last month, launcheed IvedaCare, an AI-driven assistant for safety, security, and elderly care.
- What Iveda Solutions Does: Iveda Solutions Inc is engaged in offering real-time IP video surveillance technologies.
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