Benzinga - The Dow Jones closed higher by more than 100 points on Thursday. 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.
Sarcos Technology and Robotics
- The Trade: Sarcos Technology and Robotics Corporation (NASDAQ: STRC) Director Brian D Finn acquired a total 107,794 shares an average price of $0.45. To acquire these shares, it cost around $48.72 thousand.
- What’s Happening: Sarcos Technology posted upbeat quarterly results.
- What Sarcos Technology and Robotics Does: Sarcos Technology & Robotics Corp designs, develops and manufactures a broad range of advanced mobile robotic systems that redefine human possibilities and are designed to enable the safest, most productive workforce in the world.
- The Trade: Inozyme Pharma, Inc. (NASDAQ: INZY) Director Robert Hopfner acquired a total of 344,592 shares at an average price of $4.54. The insider spent around $1.56 million to buy those shares.
- What’s Happening: Inozyme posted a FY22 net loss of $1.78 per share.
- What Inozyme Pharma Does: Inozyme Pharma Incclinical-stage rare disease biopharmaceutical company developing novel therapeutics for the treatment of diseases impacting the vasculature, soft tissue and skeleton.
BioAtla
- The Trade: BioAtla, Inc. (NASDAQ: BCAB) CEO Jay M. Short acquired a total of 40,800 shares at an average price of $2.47. To acquire these shares, it cost around $100.86 thousand.
- What’s Happening: The company posted a Q4 net loss of $27.5 million.
- What BioAtla Does: BioAtla Inc is a clinical-stage biopharmaceutical company.
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MaxCyte
- The Trade: MaxCyte, Inc. (NASDAQ: MXCT) Director Richard Douglas acquired a total of 80,000 shares at an average price of $4.32. The insider spent $345.48 thousand to buy those shares.
- What’s Happening: MaxCyte named Douglas Swirsky as Chief Financial Officer.
- What MaxCyte Does: MaxCyte Inc operates in the United States healthcare sector. It develops proprietary electroporation technology, which used blood cells instead of traditional chemical methods to transport medical gene therapies to targeted sites, increasing their safety and efficacy.