US crude oil futures traded slightly lower this morning on Tuesday. 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
OppFi
- The Trade: OppFi Inc. (NYSE: OPFI) CEO Todd Schwartz acquired a total of 24,181 shares at an average price of $2.75. To acquire these shares, it cost $66.56 thousand.
- What’s Happening: OppFi reaffirmed its FY22 guidance.
- What OppFi Does: OppFi Inc is a financial technology platform that powers banks to help the everyday consumer gain access to credit.
- The Trade: Pieris Pharmaceuticals, Inc. (NASDAQ: PIRS) Chief Medical Officer Tim Demuth acquired a total of 6,000 shares at an average price of $1.71. The insider spent around $10.26 thousand to buy those shares.
- What’s Happening: The company posted a narrower-than-expected quarterly loss.
- What Pieris Pharmaceuticals Does: Pieris Pharmaceuticals Inc is a clinical-stage biopharmaceutical company, which engages in the discovery and development of the Anticalin class of biotherapeutics. Anticalin proteins are engineered versions of lipocalins, human proteins that naturally bind, store and transport a wide spectrum of molecules.
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Great Elm Group
- The Trade: Great Elm Group, Inc. (NASDAQ: GEG) 10% owner Long Ball Partners Llc acquired a total of 54,000 shares at an average price of $2.03. To acquire these shares, it cost around $109.5 thousand.
- What’s Happening: Great Elm Group recently posted a Q3 loss of $0.22 per share.
- What Great Elm Group Does: Great Elm Group Inc formerly, Great Elm Capital Group Inc operates as a holding company. The company operates in four business lines including durable medical equipment, investment management and real estate with general corporate.
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- The Trade: Lipocine Inc. (NASDAQ: LPCN) CEO and President Mahesh Patel acquired a total of 50,000 shares at an average price of $0.77. The insider spent $38.49 thousand to buy those shares.
- What’s Happening: Lipocine announced topline results from its Open-Label Extension (OLE) study of LPCN 1144, including an orally delivered prodrug of testosterone.
- What Lipocine Does: Lipocine Inc is a clinical-stage biopharmaceutical company. It is focused on oral drug delivery technology for the development of pharmaceutical products focusing on metabolic and endocrine disorders.
Read at Benzinga