The Dow Jones jumped around 200 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.
RiceBran Technologies
- The Trade: RiceBran Technologies (NASDAQ:RIBT) Director David Chemerow acquired a total of 50,000 shares at an average price of $0.50. To acquire these shares, it cost $25.08 thousand.
- What’s Happening: RiceBran Technologies recently reported worse-than-expected Q4 EPS results.
- What RiceBran Technologies Does: RiceBran Technologies is a specialty ingredient company focused on the development, production, and marketing of products derived from traditional and ancient small grains.
Tonix Pharmaceuticals
- The Trade: Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) CEO Seth Lederman acquired a total of 100,000 shares at an average price of $0.25. The insider spent around $24.5 thousand to buy those shares.
- What’s Happening: Tonix Pharmaceuticals recently said that as expected, TNX-102 SL (cyclobenzaprine HCl sublingual tablets) did not significantly reduce fibromyalgia daily pain at Week 14 compared to placebo in the Phase 3 RALLY study.
- What Tonix Pharmaceuticals Does: Tonix Pharmaceuticals Holding Corp is a clinical-stage pharmaceutical company. It is engaged in discovering, licensing, acquiring and developing drugs and biologics to treat and prevent human disease and alleviate suffering.
Also check this: Children's Place And 2 Other Stocks Bought By Insiders
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Performant Financial
- The Trade: Performant Financial Corporation (NASDAQ:PFMT) 10% owner Phil Frohlich acquired a total of 100,000 shares at an average price of $2.84. To acquire these shares, it cost around $284 thousand.
- What’s Happening: The company recently posted upbeat quarterly sales.
- What Performant Financial Does: Performant Financial Corp provides technology-enabled recovery and related analytics services in the United States.
NexImmune
- The Trade: NexImmune, Inc. (NASDAQ:NEXI) Director Grant Verstandig acquired a total of 190,600 shares at an average price of $3.94. The insider spent $750.27 thousand to buy those shares.
- What’s Happening: NexImmune and Zephyr AI recently announced a strategic partnership focusing on discovering and validating novel targets for new T-cell-mediated therapies in oncology.
- 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.
Butler National
- The Trade: Butler National Corporation (OTC:BUKS) Director John M Edgar acquired a total of 294,118 shares at an average price of $0.68. The insider spent $200 thousand to buy those shares.
- What’s Happening: The company recently reported Q3 results.
- What Butler National Does: Butler National Corp is engaged in design, manufacture and sell, install, repair, modify, overhaul, service and distribute a broad portfolio of aerostructures, aircraft components, avionics, accessories, subassemblies, and systems.
