US stock futures traded lower this morning ahead of the release of big tech earnings. 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.
IMARA
- The Trade: IMARA Inc. (NASDAQ: IMRA) 10% owner Braden Michael Leonard acquired a total of 560,000 shares at an average price of $1.40. To acquire these shares, it cost $783.84 thousand.
- What’s Happening: Imara recently announced the interim results in the Ardent trial for sickle cell disease and the results in the Forte trial for beta-thalassemia showed no meaningful benefit.
- What IMARA Does: Imara Inc is a clinical-stage biopharmaceutical company engaged in developing and commercializing novel therapeutics to treat patients suffering from rare inherited genetic disorders of hemoglobin.
- The Trade: Athena Gold Corporation (OTC: AHNR) 10% owner John D Gibbs acquired a total of 2,193,750 shares at an average price of $0.06. The insider spent around $138.21 thousand to buy those shares.
- What’s Happening: Athena Gold closed CAD $500,000 non brokered private placement.
- What Athena Gold Does: Athena Gold Corp is focused on the exploration and development of precious metals in the Western United States. Its core holding is Excelsior Springs Project in Nevada's Walker Lane Gold District
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Quantum Energy
- The Trade: Quantum Energy, Inc. (OTC: QEGY) CFO William Westbrook acquired a total of 83,000 shares at an average price of $0.34. To acquire these shares, it cost around $28 thousand.
- What’s Happening: Quantum Energy recently announced the approval of a new $2.0 million stock Buy-back Program.
- What Quantum Energy Does: Quantum Energy Inc is a development stage diversified holding company with an emphasis on land holdings, refinery, and fuel distribution. Geographically it holds a presence in the United States and Canada.
- The Trade: Sharps Technology, Inc. (NASDAQ: STSS) CIO and COO Alan R Blackman acquired a total of 5,000 shares at an average price of $1.52. The insider spent $7.6 thousand to buy those shares.
- What’s Happening: Sharps Technology recently priced its IPO at $4.25 per share.
- What Sharps Technology Does: Sharps Technology Inc is a medical device company. It offers syringes and other safety products.
Read at Benzinga