The Dow Jones index closed lower by around 0.2% on Friday. 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.
Rezolute
- The Trade: Rezolute, Inc. (NASDAQ:RZLT) CFO Daron Evans acquired a total of 50,000 shares an average price of $1.93. To acquire these shares, it cost around $96,345.
- What's Happening: On Feb. 13, Rezolute posted a narrower-than-expected quarterly loss.
- What Rezolute Does: Rezolute Inc is a biopharmaceutical company. The company develops novel, sustained-release injectable therapies.
Retractable Technologies
- The Trade: Retractable Technologies, Inc. (NASDAQ:RVP) President and CEO Thomas J Shaw acquired a total of 6,068 shares at at an average price of $1.23. To acquire these shares, it cost around $7,446.
- What's Happening: On Nov. 14, Retractable Technologies reported that its loss from operations was $8.7 million for the first nine months of 2023.
- What Retractable Technologies Does: Retractable Technologies Inc designs, develops, manufactures, and markets safety syringes and other safety medical products for the healthcare profession.
Marpai
- The Trade: Marpai, Inc. (NASDAQ:MRAI) CEO Damien Lamendola acquired a total of 910,000 shares at an average price of $1.65. The insider spent around $1.5 million to buy those shares.
- What's Happening: On March 6, Marpai reported better-than-expected preliminary fourth-quarter net revenue results.
- What Marpai Does: Marpai Inc operates as a health plan company. It uses A.I. to predict and help prevent costly events for its members, and in turn, lower its clients' health care costs.
Advantage Solutions
- The Trade: Advantage Solutions Inc. (NASDAQ:ADV) CFO Christopher Growe acquired a total of 10,000 shares at an average price of $3.49. The insider spent around $34,868 to buy those shares.
- What's Happening: On Feb. 29, Advantage Solutions posted downbeat quarterly results.
- What Advantage Solutions Does: Advantage Solutions Inc is the provider of outsourced sales and marketing solutions to consumer goods companies and retailers.
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