The Dow Jones traded higher by over 400 points on Monday. Investors, meanwhile, focused on some notable insider trades.
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.3
U.S. Gold
- The Trade: U.S. Gold Corp. (NASDAQ: USAU) Director Luke Norman bought a total of 10,000 shares at an average price of $3.64. To acquire these shares, it cost around $36.41 thousand.
- What’s Happening: The company’s stock dropped 35% over the past six months.
- What U.S. Gold Does: U.S. Gold Corp is a U.S. focused gold exploration and development company. It has a portfolio of exploration properties.
MacroGenics
- The Trade: MacroGenics, Inc. (NASDAQ: MGNX) 10% owner BB Biotech AG acquired a total of 454,399 shares at an average price of $3.89. The insider spent around $1.77 million to buy those shares.
- What’s Happening: Gilead Sciences (NASDAQ:GILD) and MacroGenics recently announced an exclusive option and collaboration agreement to develop MGD024 and two additional bispecific research programs.
- What MacroGenics Does: Macrogenics Inc is a biotechnology company focused on discovering and developing antibody-based therapeutics for the treatment of cancer.
Black Diamond Therapeutics
- The Trade: Black Diamond Therapeutics, Inc. (NASDAQ: BDTX) 10% owner BB Biotech AG acquired a total of 131,423 shares at an average price of $1.36. To acquire these shares, it cost around $179.12 thousand.
- What’s Happening: Black Diamond Therapeutics, during August, posted a Q2 loss of $0.63 per share.
- What Black Diamond Therapeutics Does: Black Diamond Therapeutics Inc is a precision oncology medicine company. It is engaged in the discovery and development of small molecule, tumor-agnostic therapies.