The Dow Jones closed higher by around 150 points on Thursday. 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.
Diversified Healthcare Trust
- The Trade: Diversified Healthcare Trust (NASDAQ:DHC) Director Adam D Portnoy acquired a total 3,154,641 shares an average price of $1.38. To acquire these shares, it cost around $4.34 million.
- What's Happening: Diversified Healthcare posted better-than-expected quarterly sales.
- What Diversified Healthcare Trust Does: Diversified Healthcare Trust is a real estate investment trust that focuses on healthcare-related properties, including life science estates, medical offices, and senior living communities.
Rain Oncology
- The Trade: Rain Oncology Inc. (NASDAQ:RAIN) 10% owner Tang Capital Partners LP acquired a total of 1,088,273 shares at an average price of $1.06. The insider spent around $1.16 million to buy those shares.
- What's Happening: Roth MKM recently downgraded Rain Oncology from Buy to Neutral and announced a $1.2 price target.
- What Rain Oncology Does: Rain Oncology Inc is a late-stage precision oncology company developing therapies that target oncogenic drivers for which it is able to genetically select patients it believes will likely benefit.
Cronos Group
- The Trade: Cronos Group Inc. (NASDAQ:CRON) Director Jason M. Adler acquired a total of 37,500 shares at an average price of $1.74. To acquire these shares, it cost around $65.07 thousand.
- What's Happening: Cronos Group released its 2023 first quarter business results, revealing net revenue of $20.1 million, a decrease of 19.5% compared to $25 million in the year-ago quarter.
- What Cronos Group Does: Cronos Group, headquartered in Toronto, Canada cultivates and sells medicinal and recreational cannabis through its medicinal brand, Peace Naturals, and its two recreational brands, Cove and Spinach.
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Vaccitech
- The Trade: Vaccitech plc (NASDAQ:VACC) Director Robin Wright acquired a total of 13,750 shares at an average price of $2.66. The insider spent $36.61 thousand to buy those shares.
- What's Happening: Vaccitech posted a narrower-than-expected quarterly loss.
- What Vaccitech Does: Vaccitech PLC is a clinical-stage biopharmaceutical company. It is engaged in the discovery and development of novel immunotherapeutics and vaccines for the treatment and prevention of infectious disease, cancer, and immune tolerance.