The Dow Jones closed higher by more than 250 points on Friday. 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: NN, Inc. NNBR 10% owner Hjalmar Eric Soderlund acquired a total 95,053 shares an average price of $1.04. To acquire these shares, it cost around $98.76 thousand.
- What’s Happening: NN opened a state-of-the-art 50,000+ square foot facility in São Paulo, Brazil.
- What NN Does: NN Inc is a diversified industrial company that combines engineering and production capabilities with in-depth materials science expertise to design and manufacture high-precision solutions and components.
- The Trade: TRACON Pharmaceuticals, Inc. TCON President and CEO Charles Theuer acquired a total of 50,999 shares at an average price of $0.74. The insider spent around $37.89 thousand to buy those shares.
- What’s Happening: TRACON Pharmaceuticals recently announced arbitration award in dispute with I-Mab.
- What TRACON Pharmaceuticals Does: TRACON Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of novel targeted therapeutics for cancer and utilizing its cost efficient, contract research organization (CRO) independent product development platform to partner with ex-U.S. companies to develop and commercialize innovative products in the United States.
- The Trade: MAIA Biotechnology, Inc. MAIA Director Stan Smith acquired a total of 133,300 shares at an average price of $2.25. To acquire these shares, it cost around $299.93 thousand. The company’s other Directors and CFO also purchased the company’s shares.
- What’s Happening: MAIA Biotechnology reported pricing of $5 million public offering of 2,222,200 shares of common stock at a price of $2.25 per share.
- What MAIA Biotechnology Does: MAIA Biotechnology Inc is a targeted therapy, immuno-oncology company focused on the development and commercialization of potential first-in-class drugs with novel mechanisms of action that are intended to meaningfully improve and extend the lives of people with cancer.
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