Benzinga - The Dow Jones closed higher by over 100 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.
NN
- The Trade: NN, Inc. (NASDAQ: NNBR) 10% owner Hjalmar Eric Soderlund acquired a total 77,774 shares an average price of $1.05. To acquire these shares, it cost around $81.95 thousand.
- What’s Happening: NN posted downbeat quarterly sales results.
- What NN Does: NN Inc is a diversified industrial company that combines engineering and production capabilities with in-depth materials science expertise to design and manufacture high-precision solutions and components. It operates in two business segments: mobile solutions and power solutions.
- The Trade: Chembio Diagnostics, Inc. (NASDAQ: CEMI) 10% owner Joseph Edelman acquired a total of 156,434 shares at an average price of $0.45. The insider spent around $70.4 thousand to buy those shares.
- What’s Happening: Biosynex extended tender offer for the shares of Chembio Diagnostics, Inc.
- What Chembio Diagnostics Does: Chembio Diagnostics Inc is a company that develops, manufactures, and commercializes point-of-care diagnostic tests that detect infectious diseases.
Oncternal Therapeutics
- The Trade: Oncternal Therapeutics, Inc. (NASDAQ: ONCT) CEO James Breitmeyer acquired a total of 150,000 shares at an average price of $0.29. To acquire these shares, it cost around $43.93 thousand.
- What’s Happening: Oncternal Therapeutics announced a strategic reprioritization and capital preservation and extends cash runway into 2025.
- What Oncternal Therapeutics Does: Oncternal Therapeutics Inc is a clinical-stage oncology company developing first-in-class, novel therapies that target a broad spectrum of cancers with a large unmet medical need.
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