The Dow Jones closed higher by over 400 points on Monday. Investors, meanwhile, focused on some notable insider trades.
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.3
Cosmos Holdings
- The Trade: Cosmos Holdings Inc. (NASDAQ:COSM) CEO Grigorios Siokas bought a total of 12,500,000 shares at an average price of $0.12. To acquire these shares, it cost around $1.5 million.
- What’s Happening: Cosmos recently announced pricing of a $7.5 million upsized public offering at $0.12 per share.
- What Cosmos Holdings Does: Cosmos Holdings Inc is engaged in the research, development, and commercialization of pharmaceutical products and medicines across the European Union member states. It offers over-the-counter drugs and branded and generic medicines.
Comera Life Sciences
- The Trade: Comera Life Sciences Holdings, Inc. (NASDAQ:CMRA) 10% owner Charles Cherington acquired a total of 15,007 shares at an average price of $1.58. The insider spent around $23.68 thousand to buy those shares.
- What’s Happening: Comera Life Sciences recently announced preclinical results of lead SQore Excipient in SEQURUS-2 study.
- What Comera Life Sciences Does: Comera Life Sciences Holdings Inc is a pre-clinical biotechnology company dedicated to promoting a formulation science and technology to transform essential biologic medicines from intravenous to subcutaneous forms.
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Star Equity Holdings
- The Trade: Star Equity Holdings, Inc. (NASDAQ:STRR) Executive Chairman Jeffrey E Eberwein acquired a total of 30,000 shares at an average price of $1.00. To acquire these shares, it cost around $29.9 thousand.
- What’s Happening: The company, during August, posted downbeat quarterly earnings.
- What Star Equity Does: Star Equity Holdings Inc is a diversified holding company with three divisions: Healthcare, Construction, and Investments.
Emmaus Life Sciences
- The Trade: Emmaus Life Sciences, Inc. (OTC:EMMA) Chairman and CEO Yutaka Niihara acquired a total of 65,000 shares at an average price of $0.17. The insider spent $11.3 thousand to buy those shares.
- What’s Happening: The company’s stock jumped 33% over the past month.
- What Emmaus Life Sciences Does: Emmaus Life Sciences Inc is a biopharmaceutical company engaged in the discovery, development, and commercialization of new treatments and therapies primarily for rare and orphan diseases.
