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: Avalo Therapeutics, Inc. (NASDAQ:AVTX) Director Steven Boyd acquired a total of 645000 shares at an average price of $1.00. To acquire these shares, it cost $642,931.32.
- What’s Happening: Avalo Therapeutics recently reported Phase 1b results for AVTX-002 in moderate to severe Crohn’s disease patients and presented additional program updates at the 2022 investor event.
- What Avalo Therapeutics Does: Avalo Therapeutics Inc is a clinical-stage precision medicine company that discovers, develops, and commercializes targeted therapeutics for patients with significant unmet clinical needs in immunology, immuno-oncology, and rare genetic diseases.
- The Trade: Creatd, Inc. (NASDAQ:CRTD) Co-CEO Jeremy Frommer acquired a total of 2275 shares at an average price of $2.20. The insider spent $5,009.63 to buy those shares.
- What’s Happening: The company’s stock gained around 1% over the past month.
- What Creatd Does: Creatd Inc empowers creators, brands, and entrepreneurs through technology and partnership. The company has three platforms, namely Vocal Ventures, Creatd Partners, and Recreatd.
- The Trade: Anixa Biosciences, Inc. (NASDAQ:ANIX) Director Lewis H. Titterton Jr. acquired a total of 6000 shares at an average price of $3.08. To acquire these shares, it cost $18,480.00.
- What’s Happening: Anixa Biosciences, last month, announced the results of a genomic variant analysis conducted with its partner, MolGenie GmbH, on potential compounds to treat COVID-19.
- What Anixa Biosciences Does: Anixa Biosciences Inc, a cancer-focused biotechnology company, is engaged in harnessing the body’s immune system in the fight against cancer.