The Nasdaq Composite gained around 60 points on Wednesday. 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.
Neuronetics
- The Trade: Neuronetics, Inc. (NASDAQ:STIM) 10% owner Cannell Capital Llc acquired a total of 60,848 shares at an average price of $2.96. To acquire these shares, it cost $180 thousand.
- What’s Happening: The company earlier during the month posted upbeat quarterly results.
- What Neuronetics Does: Neuronetics Inc a commercial stage medical technology company focused on designing, developing and marketing products that improve the quality of life for patients who suffer from psychiatric disorders.
Vivos
- The Trade: Vivos Inc. (OTC:RDGL) CEO and President Michael K Korenko acquired a total of 176,250 shares at an average price of $0.06. The insider spent around $6.24 thousand to buy those shares.
- What’s Happening: Vivos, last month, enhanced its intellectual property protection.
- What Vivos Does: Vivos Inc is a radiation oncology medical device company.
Also check this: Children's Place And 2 Other Stocks Bought By Insiders
Don’t forget to check out our premarket coverage here .
Muscle Maker
- The Trade: Muscle Maker, Inc. (NASDAQ:GRIL) CEO Michael J Roper acquired a total of 10,000 shares at an average price of $0.52. To acquire these shares, it cost around $5.2 thousand.
- What’s Happening: Muscle Maker signed five new Pokemoto franchise agreements for Rhode Island.
- 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.
Lineage Cell Therapeutics
- The Trade: Lineage Cell Therapeutics, Inc. (NYSE:LCTX) Director Dipti Amin acquired a total of 35,000 shares at an average price of $1.63. The insider spent $57.05 thousand to buy those shares.
- What’s Happening: Lineage Cell Therapeutics recently posted a Q4 loss of $0.17 per share.
- What Lineage Cell Therapeutics Does: Lineage Cell Therapeutics Inc is a clinical-stage biotechnology company focused on the development and commercialization of novel therapies for the treatment of degenerative diseases.
