Benzinga - by Avi Kapoor, Benzinga Staff Writer.
$1.5M Bet On This Healthcare Stock? Check Out These 4 Penny Stocks Insiders Are Aggressively Buying
The Dow Jones index closed lower by over 150 points on Tuesday. 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.
Fortress Biotech
- The Trade: Fortress Biotech, Inc. (NASDAQ: FBIO) President, CEO and Chairman MD Lindsay Rosenwald acquired a total of 50,000 shares an average price of $2.38. To acquire these shares, it cost around $118,770.
- What’s Happening: Fortress Biotech recently announced pricing of an $11 million registered direct offering priced at-the-market under Nasdaq rules.
- What Fortress Biotech Does: Fortress Biotech Inc is a biopharmaceutical company. The firm is involved in the business of acquiring, developing, and commercializing pharmaceutical and biotechnology products.
- The Trade: Alzamend Neuro, Inc. (NASDAQ: ALZN) 10% owner Milton C. Ault III acquired a total of 5,000 shares at at an average price of $1.02. To acquire these shares, it cost around $5,093.
- What’s Happening: Alzamend Neuro recently received a "Study May Proceed" letter from the FDA for the initiation of study AL001-PTSD01, a Phase 2A study of AL001 for post-traumatic stress disorder (PTSD).
- What Alzamend Neuro Does: Alzamend Neuro Inc is an early clinical-stage biopharmaceutical company. It is focused on developing novel products for the treatment of neurodegenerative diseases and psychiatric disorders, including Alzheimer's. Its mission is to develop and market safe and effective treatments.
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Nemaura Medical
- The Trade: Nemaura Medical Inc. (OTC: NMRD) Chief Operating Officer Arash Ghadar acquired a total of 100,000 shares at an average price of $0.14. The insider spent around $14,000 to buy those shares.
- What’s Happening: The company’s stock fell around 40% over the past month.
- What Nemaura Medical Does: Nemaura Medical Inc is a medical technology company developing sugarBEAT as a non-invasive, affordable, and flexible Continuous Glucose Monitor (CGM) designed for people with diabetes and pre-diabetics to manage their glucose levels. Insulin users can adjunctively use sugarBEAT when calibrated with a finger-stick glucose reading.
- The Trade: Vivani Medical, Inc. (NASDAQ: VANI) Director Gregg Williams acquired a total of 6,731 shares at an average price of $1.08. The insider spent around $7,269 to buy those shares.
- What’s Happening: Vivani Medical, during November, posted a wider-than-expected quarterly loss.
- What Vivani Medical Does: Vivani Medical Inc is a preclinical stage biopharmaceutical company. It develops miniaturized, subdermal implants utilizing its proprietary NanoPortal technology to enable long-term, near constant-rate delivery of a broad range of medicines to treat chronic diseases.
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