Benzinga - by Lisa Levin, Benzinga Editor.
The Dow Jones closed lower by around 200 points on Wednesday. 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.
VolitionRx
- The Trade: VolitionRx Limited (NYSE: VNRX) Director Phillip Barnes acquired a total of 5,000 shares an average price of $1.30. To acquire these shares, it cost around $6,500.
- What’s Happening: VolitionRX posted a narrower-than-expected quarterly loss.
- What VolitionRx Does: VolitionRX Ltd is a United states based epigenetics company that applies its Nucleosomics platform through its subsidiaries to develop simple, easy-to-use, cost effective blood tests to help diagnose and monitor a range of life-altering diseases including some cancers and diseases associated with NETosis such as sepsis and COVID-19.
- The Trade: Cadrenal Therapeutics, Inc. (NASDAQ: CVKD) Chairman and CEO Quang Pham acquired a total of 40,000 shares at an average price of $0.90. The insider spent around $36,188.
- What’s Happening: Cadrenal Therapeutics highlighted additional need for a new vitamin k antagonist following updates from the recent European Society of Cardiology Congress.
- What Cadrenal Therapeutics Does: Cadrenal Therapeutics Inc is focused on developing a novel therapy with orphan drug indication, tecarfarin, for the prevention of systemic thromboembolism (blood clots) of cardiac origin in patients with end-stage renal disease (on dialysis) and atrial fibrillation (irregular heartbeat) or AFib.
- The Trade: Origin Materials, Inc. (NASDAQ: ORGN) Director R. Tony Tripeny acquired a total of 73,000 shares at an average price of $1.37. To acquire these shares, it cost around $100,054.
- What’s Happening: Origin Materials announced appointment of Pam Haley as interim Chief Financial Officer.
- What Origin Materials Does: Origin Materials Inc is a carbon-negative materials company. The platform turns the carbon found in biomass into useful materials, while eliminating the need for fossil resources and capturing carbon in the process.
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ReWalk Robotics
- The Trade: ReWalk Robotics Ltd. (NASDAQ: RWLK) 10% owner Lind Global Fund II LP acquired a total of 31,537 shares at an average price of $0.70. The insider spent $22,190 to buy those shares.
- What’s Happening: ReWalk Robotics posted downbeat results for the second quarter.
- What ReWalk Robotics Does: ReWalk Robotics Ltd is an Israel based medical device company. It is engaged in designing, developing and commercializing the Rewalk systems which are exoskeletons allowing wheelchair-bound individuals to stand and walk once again.