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: Savara Inc. (NASDAQ: SVRA) Director David Ramsay acquired a total of 137052 shares at an average price of $1.29. To acquire these shares, it cost $176,381.82.
What’s Happening: Savara, last month, reported a Q2 loss of $0.07 per share.
What Savara Does: Savara is a pharmaceutical company. The company develops novel therapies for the treatment of serious or life-threatening rare respiratory diseases.
22nd Century Group
The Trade: 22nd Century Group, Inc. (NASDAQ: XXII) CEO James A Mish acquired a total of 20000 shares shares at an average price of $2.88. The insider spent $57,600.00 to buy those shares.
What’s Happening: 22nd Century Group recently said it will enter the specialty hops market.
What 22nd Century Group Does: 22nd Century Group is a US-based plant biotechnology company. It focuses on developing technology that allows the increase or decrease in the level of nicotine and other nicotinic alkaloids in tobacco plants and levels of cannabinoids in cannabis plants through genetic engineering and plant breeding.
The Trade: Vyant Bio, Inc. (NASDAQ: VYNT) Director Marcus Boehm acquired a total of 5000 shares at an average price of $2.44. To acquire these shares, it cost $12,200.00..
What’s Happening: Vyant Bio and Cyclica, in August, reported a strategic collaboration to identify compounds to treat CDKL5 deficiency disorder.
What Vyant Bio Does: Vyant Bio Inc is emerging as an advanced biotechnology drug discovery company.
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