US crude oil futures traded sharply lower this morning on Thursday. 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.
Cyclo Therapeutics
- The Trade: Cyclo Therapeutics, Inc. (NASDAQ: CYTH) Director Markus Sieger acquired a total of 10,000 shares at an average price of $2.73. To acquire these shares, it cost $27.3 thousand.
- What’s Happening: Cyclo Therapeutics recently entered into research and collaboration agreement with wits commercial enterprise to explore potential applications of Trappsol Cyclo to expand pipeline.
- What Cyclo Therapeutics Does: Cyclo Therapeutics Inc is a clinical-stage biotechnology firm. The company develops cyclodextrin-based products for the treatment of disease.
- The Trade: Timberline Resources Corporation (OTC: TLRS) Vice President, Exploration Steven A Osterberg acquired a total of 71,425 shares at an average price of $0.14. The insider spent around $10 thousand to buy those shares.
- What’s Happening: The company’s stock jumped around 40% over the past month.
- What Timberline Resources Does: Timberline Resources Corp is a mineral exploration company.
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TRACON Pharmaceuticals
- The Trade: TRACON Pharmaceuticals, Inc. (NASDAQ: TCON) CFO Scott B Brown acquired a total of 1,000 shares at an average price of $2.82. To acquire these shares, it cost around $2.82 thousand.
- What’s Happening: Tracon Pharmaceuticals recently filed for mixed shelf of up to $150 million.
- What TRACON Pharmaceuticals Does: TRACON Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of novel targeted therapeutics for cancer and utilizing its cost efficient, contract research organization (CRO) independent product development platform to partner with ex-U.S. companies to develop and commercialize innovative products in the United States.
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- The Trade: Oragenics, Inc. (NYSE: OGEN) Interim PEO, CFO Michael O. Sullivan acquired a total of 20,000 shares at an average price of $0.35. The insider spent $6.92 thousand to buy those shares.
- What’s Happening: Oragenics recently initiated pivotal IND-enabling toxicology study on its intranasal COVID-19 vaccine candidate, NT-CoV2-1.
- What Oragenics Does: Oragenics Inc is engaged in the healthcare sector.
Read at Benzinga