US stock futures traded lower this morning after Netflix, Inc. (NASDAQ:NFLX) issued weak subscriber growth forecast for the first quarter. However, investors also 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.
Avalo Therapeutics
- The Trade: Avalo Therapeutics, Inc. (NASDAQ:AVTX) Director Steven Boyd acquired a total of 312,000 shares at an average price of $0.88. To acquire these shares, it cost $274,486.28.
- 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.
Encision
- The Trade: Encision Inc. (OTC:ECIA) Director Robert Fries acquired a total of 5,000 shares at an average price of $0.35. The insider spent $1,750.00 to buy those shares.
- What’s Happening: The company’s stock dropped around 4% over the previous month.
- What Encision Does: Encision Inc is a medical device company. It develops and markets technology that provides unprecedented outcomes and patient safety in minimally-invasive surgery.
Accelerate Diagnostics
- The Trade: Accelerate Diagnostics, Inc. (NASDAQ:AXDX) Director Jack Schuler acquired a total of 41,912 shares at an average price of $3.94. To acquire these shares, it cost $165,133.28.
- What’s Happening: Accelerate Diagnostics recently said preliminary Q4 sales and FY21 sales are expected to be below estimates.
- What Accelerate Diagnostics Does: Accelerate Diagnostics Inc is an in vitro diagnostics company that specializes in rapid diagnostics for infectious pathogens. The firm's core platform, the Accelerate ID/AST System, determines whether live bacterial or fungal cells in a patient sample are susceptible to a particular antibiotic.
CymaBay Therapeutics
- The Trade: CymaBay Therapeutics, Inc. (NASDAQ:CBAY) Chief Medical Officer Dennis D Kim acquired a total of 20,000 shares at an average price of $3.04. The insider spent $60,800.00 to buy those shares.
- What’s Happening: The company’s shares dropped around 35% over the past six months.
- What CymaBay Therapeutics Does: CymaBay Therapeutics Inc is a part of the healthcare sector based in the United States. Its main business involves the development of therapeutics such as Arhalofenate, MBX-8025, and MBX-2982.
