The Dow Jones index closed lower by over 20 points 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.
Insider Transactions Overview
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OPKO Health
The Trade: OPKO Health, Inc. (OPK) 10% owner Frost Gamma Investments Trust acquired a total of 500,000 shares at an average price of $0.99. To acquire these shares, it cost around $496,150.
What’s Happening: On Feb. 27, OPKO Health posted upbeat quarterly results.
What OPKO Health Does: OPKO Health Inc is a diversified biotechnology company that operates pharmaceutical and diagnostic development programs.
Immunic: A Dose of Confidence
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The Trade
Immunic, Inc. (IMUX) President and CEO Daniel Vitt acquired a total of 14,000 shares at an average price of $1.31. To acquire these shares, it cost around $18,333.
What’s Happening: On Feb. 22, Immunic reported a narrower-than-expected fourth-quarter loss.
What Immunic Does: Immunic Inc is a clinical-stage biopharmaceutical company developing a pipeline of selective oral immunology therapies aimed at treating chronic inflammatory and autoimmune diseases, including ulcerative colitis, Crohn’s disease, relapsing-remitting multiple sclerosis, and psoriasis.
Fresh Tracks Therapeutics: Overcoming Hurdles
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The Trade
Fresh Tracks Therapeutics, Inc. (FRTX) 10% owner Exploration Capital, LLC acquired a total of 20,109 shares at an average price of $0.90. The insider spent around $18,098 to buy those shares.
What’s Happening: The company’s stock fell around 6% over the past month.
What Fresh Tracks Therapeutics Does: Fresh Tracks Therapeutics Inc is a clinical-stage pharmaceutical company striving to transform patient lives through the development of innovative and differentiated prescription therapeutics.