The Dow Jones closed higher by around 200 points on Monday. 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.
Cidara Therapeutics
- The Trade: Cidara Therapeutics, Inc. (NASDAQ:CDTX) President and CEO Jeffrey Stein acquired a total 50,000 shares an average price of $1.04. To acquire these shares, it cost around $51.85 thousand.
- What's Happening: Cidara Therapeutics reported worse-than-expected Q4 EPS and sales results.
- What Cidara Therapeutics Does: Cidara Therapeutics Inc is a biotechnology company. It is focused on the discovery, development, and commercialization of novel anti-infectives for the treatment and prevention of diseases.
Heliogen
- The Trade: Heliogen, Inc. (NYSE:HLGN) 10% owner Patrick Soonshiong acquired a total of 1,334,051 shares at an average price of $0.23. The insider spent around $306.2 thousand to buy those shares. The company's VP, CFO and Treasurer also purchased the company's shares.
- What's Happening: Heliogen is expected to release financial and operating results for the fourth quarter on Tuesday, March 28, 2023.
- What Heliogen Does: Heliogen Inc is a concentrated solar energy system that is being developed to unlock the power of sunlight to replace fossil fuels.
Check This Out: Investor Fear Eases As Dow Jumps Around 200 Points
Texas Mineral Resources
- The Trade: Texas Mineral Resources Corp. (OTC:TMRC) Director Anthony Marchese acquired a total of 21,364 shares at an average price of $1.43. To acquire these shares, it cost around $30.54 thousand.
- What's Happening: The company's stock tumbled around 39% over the past six months.
- What Texas Mineral Resources Does: Texas Mineral Resources Corp is an exploration-stage mining company. It is primarily engaged in the business of acquisition, exploration, and development of mineral properties.
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