The Dow Jones closed higher by over 60 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.
SHF Holdings
- The Trade: SHF Holdings, Inc. (NASDAQ:SHFS) Chief Legal Officer Donald Emmi acquired a total of 66,000 shares an average price of $0.87. To acquire these shares, it cost around $57,420. The company's CEO also bought 20,000 shares of the company.
- What's Happening: On Nov. 14, SHF Hldgs posted a loss for the third quarter.
- What SHF Holdings Does: SHF Holdings Inc is a financial services provider to cannabis-related businesses.
Quince Therapeutics
- The Trade: Quince Therapeutics, Inc. (NASDAQ:QNCX) Director David Lamond acquired a total of 57,369 shares at an average price of $1.01. To acquire these shares, it cost around $58,134.
- What's Happening: On Oct. 23, Quince Therapeutics announced the successful completion of its acquisition of EryDel S.p.A.
- What Quince Therapeutics Does: Quince Therapeutics Inc is preclinical stage biopharmaceutical company focused on advancing innovative precision therapeutics for debilitating and rare diseases.
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Silo Pharma
- The Trade: Silo Pharma, Inc. (NASDAQ:SILO) President and CEO Eric Weisblum acquired a total of 1,000 shares at an average price of $1.38. The insider spent around $1,376 to buy those shares.
- What's Happening: On Nov. 21, Silo Pharma entered into exclusive license agreement with Medspray Pharma BV for intranasal technology used in SPC-15 treatment for PTSD.
- What Silo Pharma Does: SILO Pharma Inc is a developmental stage biopharmaceutical company focused on merging traditional therapeutics with psychedelic research.
Upexi
- The Trade: Upexi, Inc. (NASDAQ:UPXI) CEO Allan Marshall acquired a total of 90,001 shares at an average price of $0.94. The insider spent around $84,952 to buy those shares.
- What's Happening: On Nov. 20, Upexi posted a wider-than-expected quarterly loss.
- What Upexi Does: Upexi Inc is an innovator in aggregation, accelerating Amazon and eCommerce businesses by combining consumer data and vertical integration to scale brands in multiple industries, while lowering costs with a growing distribution network.
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