Porch Group And 2 Other Stocks Under $3 Insiders Are Buying

The Dow Jones closed lower by over 100 points on Tuesday. 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.

Eyenovia

• The Trade: Eyenovia, Inc. EYEN CEO Michael Rowe acquired a total of 2,537 shares an average price of $1.70. To acquire these shares, it cost around $4,314.
• What’s Happening: Eyenovia announced a $12 million registered direct offering.
• What Eyenovia Does: Eyenovia Inc is a clinical stage ophthalmic company developing a pipeline of therapeutics based on its propriety array print (MAP) platform technology.

Enveric Biosciences

• The Trade: Enveric Biosciences, Inc. ENVB Director Frank Pasqualone acquired a total of 1,000 shares at an average price of $2.14. The insider spent around $2,140..
• What’s Happening: Enveric Biosciences filed provisional patent application for AI-based computational methods for identifying, optimizing novel tryptamine derivatives.
• What Enveric Biosciences Does: Enveric Biosciences Inc is a patient-centric biotechnology company focused on developing new-generation, naturally occurring chemical compounds, such as cannabinoids to improve the lives of those who are adversely affected by the side effects of cancer treatments.

Porch Group

• The Trade: Porch Group, Inc. PRCH Director, CEO, Chairman and Founder Matt Ehrlichman acquired a total of 86,373 shares at an average price of $0.83. To acquire these shares, it cost around $71,936.
• What’s Happening: Porch Group posted a wider-than-expected quarterly loss.
• What Porch Group Does: Porch Group Inc is a vertical software company reinventing the home services and insurance industries. It has two reportable segments: The vertical Software segment provides software and services to home services companies.

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