Passage Bio And 2 Other Penny Stocks Insiders Are Aggressively Buying

The Dow Jones closed higher by over 200 points on Thursday. 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.

Passage Bio

• The Trade: Passage Bio, Inc. PASG 10% owner OrbiMed Capital GP VII LLC acquired a total 1,192,577 shares an average price of $0.84. To acquire these shares, it cost around $1 million.
• What’s Happening: Passage Bio posted a wider-than-expected quarterly loss.
• What Passage Bio Does: Passage Bio Inc is a genetic medicines company. The company is focused on developing transformative therapies for rare, monogenic CNS disorders.

TerrAscend

• The Trade: TerrAscend Corp. TRSSF Director Jason Wild acquired a total of 800,002 shares at an average price of $1.50. The insider spent around $1.2 million to buy those shares.
• What’s Happening: TerrAscend announced the closing of its previously announced acquisition of Derby 1, LLC, or Peninsula Alternative Health, a medical marijuana dispensary in Maryland.
• What TerrAscend Does: TerrAscend Corp is a company focused on creating and delivering quality cannabis products and services that meet the evolving needs of patients.

VerifyMe

• The Trade: VerifyMe, Inc. VRME CEO Adam Stedham acquired a total of 10,000 shares at an average price of $1.31. To acquire these shares, it cost around $13,100.
• What’s Happening: VerifyMe reported mixed first-quarter financial results.
• What VerifyMe Does: VerifyMe Inc is a technology solutions company based in the United States. It markets a broad patent portfolio that includes patents in the field of authenticating products, people, and financial transactions.

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