On Friday, the Dow Jones index closed higher by more than 100 points. When insiders purchase or sell shares, it indicates their confidence or concern around the company’s prospects. For investors and traders interested in penny stocks, this can be a factor in their overall decision-making process.
Here’s a look at some recent notable insider transactions for penny stocks. For more insights, check out Benzinga’s insider transactions platform.
Insider Activity at Skye Bioscience
- The Trade: Acquiring a total of 5,206,074 shares at an average price of $2.31, Scott M Rocklage, a 10% owner in Skye Bioscience, Inc. (SKYE), has demonstrated confidence in the company with an investment of around $12,026,031.
- Analyst Coverage: Piper Sandler analyst Edward Tenthoff initiated coverage on Skye Bioscience with an Overweight rating and announced a price target of $12.
- Business Profile: Skye Bioscience, Inc., a clinical-stage pharmaceutical company, focuses on discovering, developing, and commercializing cannabinoid-based molecules for the treatment of infectious diseases.
- The Trade: Acquiring a total of 89,557 shares at an average price of $2.50, Director Blaine Scott White has shown confidence in New Peoples Bankshares, Inc. (NWPP) with an investment of around $223,893.
- Stock Performance: The company’s stock gained around 11% over the past six months.
- Business Profile: New Peoples Bankshares Inc is a bank holding company for New Peoples Bank.
Moreover, How To Earn $500 A Month From Eli Lilly Stock Ahead Of Q4 Earnings Report
Insider Activity at Vivani Medical
- The Trade: Director Gregg Williams acquired a total of 100 shares at an average price of $1.01, representing a modest investment of around $101.00 in Vivani Medical, Inc. (VANI).
- Business Update: Vivani Medical posted a wider-than-expected quarterly loss in November.
- Business Profile: Vivani Medical Inc is a preclinical stage biopharmaceutical company focused on developing miniaturized, subdermal implants utilizing proprietary NanoPortal technology for the treatment of chronic diseases.
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