Aldeyra Therapeutics And 2 Other Stocks Under $5 Insiders Are Buying

The Dow Jones index closed lower by around 0.1% on Wednesday. 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.

Aldeyra Therapeutics

  • The Trade: Aldeyra Therapeutics, Inc. ALDX 10% owner Joseph Edelman acquired a total of 504,272 shares an average price of $3.84. To acquire these shares, it cost around $1.93 million.
  • What’s Happening: On April 3, Oppenheimer upgraded the stock from Perform to Outperform and announced a $10 price target.
  • What Aldeyra Therapeutics Does: Aldeyra Therapeutics Inc is a biotechnology company engaged in developing and commercializing next-generation medicines to improve the lives of patients with immune-mediated diseases.

Retractable Technologies

  • The Trade: Retractable Technologies, Inc. RVP President and CEO Thomas J Shaw acquired a total of 8,292 shares at at an average price of $1.15. To acquire these shares, it cost around $9,499.
  • What’s Happening: On March 29, Retractable Technologies reported results for 2023.
  • What Retractable Technologies Does: Retractable Technologies Inc designs, develops, manufactures, and markets safety syringes and other safety medical products for the healthcare profession.

Check This Out: Levi Strauss, Conagra Brands And 3 Stocks To Watch Heading Into Thursday

Alzamend Neuro

  • The Trade: Alzamend Neuro, Inc. ALZN Director Milton C Ault III acquired a total of 334 shares at an average price of $0.91. The insider spent around $304 to buy those shares.
  • What’s Happening: On Dec. 11, 2023, Alzamend Neuro received a "Study May Proceed" letter from the FDA for the initiation of study AL001-PTSD01, a Phase 2A study of AL001 for post-traumatic stress disorder (PTSD).
  • What Alzamend Neuro Does: Alzamend Neuro Inc is an early clinical-stage biopharmaceutical company. It is focused on developing novel products for the treatment of neurodegenerative diseases and psychiatric disorders, including Alzheimer's.


Don’t forget to check out our premarket coverage here

Market News and Data brought to you by Benzinga APIs
Posted In: Long IdeasNewsPenny StocksInsider TradesPre-Market OutlookMarketsTrading IdeasInsider Buying
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!