Benzinga - by Avi Kapoor, Benzinga Staff Writer.
The Dow Jones index closed higher by around 25 points 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.
Vivani Medical
- The Trade: Vivani Medical, Inc. (NASDAQ: VANI) Director Gregg Williams acquired a total of 6,200 shares an average price of $1.07. To acquire these shares, it cost around $6,654.
- What’s Happening: Vivani Medical, during November, posted a wider-than-expected quarterly loss.
- What Vivani Medical Does: Vivani Medical Inc is a preclinical stage biopharmaceutical company. It develops miniaturized, subdermal implants utilizing its proprietary NanoPortal technology to enable long-term, near constant-rate delivery of a broad range of medicines to treat chronic diseases.
- The Trade: 22nd Century Group, Inc. (NASDAQ: XXII) CEO Lawrence Firestone acquired a total of 100,000 shares at at an average price of $0.17. To acquire these shares, it cost around $17,360.
- What’s Happening: The 22nd Century Group recently announced it has closed its previously announced sale of its hemp/cannabis operations.
- What 22nd Century Group Does: 22nd Century Group Inc is a United States-based biotechnology company focused on utilizing alkaloid plant technologies to improve health and wellness with reduced nicotine tobacco, and hemp/cannabis.
ADM Endeavors
- The Trade: ADM Endeavors, Inc. (OTC: ADMQ) CEO Marc Johnson acquired a total of 125,500 shares at an average price of $0.04. The insider spent around $4,937 to buy those shares.
- What’s Happening: The company’s stock jumped around 30% over the past five days.
- What ADM Endeavors Does: ADM Endeavors Inc operates a diverse vertical integrated business, which consists of a retail sales division, focusing on screen print promotions, embroidery production, digital production, import wholesale sourcing, and uniforms.
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