The Dow Jones surged by more than 250 points on Tuesday. 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.
Lument Finance Trust
- The Trade: Lument Finance Trust, Inc. (NYSE:LFT) Director Christopher James Hunt acquired a total of 25,000 shares at an average price of $2.82. To acquire these shares, it cost $70.55 thousand.
- What’s Happening: Lument Finance Trust recently posted Q4 EPS of $0.10.
- What Lument Finance Trust Does: Lument Finance Trust Inc operates as a real estate investment trust. The company is engaged in investment, financing, and management of a portfolio of commercial real estate debt investments.
Novan
- The Trade: Novan, Inc. (NASDAQ:NOVN) Director John Palmour acquired a total of 10,000 shares at an average price of $3.64. The insider spent around $36.35 thousand to buy those shares.
- What’s Happening: Novan recently acquired EPI Health LLC, a specialty pharmaceutical company focused on the U.S. dermatology market.
- What Novan Does: Novan Inc is a clinical-stage biotechnology company. It is engaged in developing therapies based on nitric oxide for treating dermatology and oncovirus related diseases.
Also check this: Alphabet And 3 Other Stocks Sold By Insiders
Don’t forget to check out our premarket coverage here .
NexImmune
- The Trade: NexImmune, Inc. (NASDAQ:NEXI) Director Sol Barer acquired a total of 30,000 shares at an average price of $2.14. To acquire these shares, it cost around $64.08 thousand.
- What’s Happening: NexImmune and Zephyr AI recently reported a strategic partnership in oncology for target discovery and validation.
- What NexImmune Does: NexImmune Inc is a clinical-stage biotechnology company engaged in developing immunotherapy to employ the body's T cells to generate an immune response that mimics natural biology.
Muscle Maker
- The Trade: Muscle Maker, Inc. (NASDAQ:GRIL) CEO Michael J Roper acquired a total of 15,000 shares at an average price of $0.48. The insider spent $7.2 thousand to buy those shares.
- What’s Happening: Muscle Maker recently recorded a 154% growth in restaurant sales for fiscal 2021.
- What Muscle Maker Does: Muscle Maker Inc is engaged in the restaurant business. It offers meals such as chicken, seafood, pasta, hamburgers, wraps, and flatbread among others.
