Benzinga - by Lisa Levin, Benzinga Editor.
The Dow Jones closed higher by around 290 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.
Cadrenal Therapeutics
- The Trade: Cadrenal Therapeutics, Inc. (NASDAQ: CVKD) Director John R. Murphy acquired a total of 20,000 shares an average price of $0.70. To acquire these shares, it cost around $13,973.
- What’s Happening: Cadrenal Therapeutics highlighted additional need for a new Vitamin K antagonist following updates from the recent European Society of Cardiology Congress.
- What Cadrenal Therapeutics Does: Cadrenal Therapeutics Inc is focused on developing a novel therapy with orphan drug indication, tecarfarin, for the prevention of systemic thromboembolism (blood clots) of cardiac origin in patients with end-stage renal disease (on dialysis) and atrial fibrillation (irregular heartbeat) or AFib.
- The Trade: MiNK Therapeutics, Inc. (NASDAQ: INKT) 10% owner Agenus Inc acquired a total of 15,001 shares at an average price of $1.09. To acquire these shares, it cost around $16,380.
- What’s Happening: MiNK Therapeutics recently posted a narrower-than-expected second-quarter loss.
- What MiNK Therapeutics Does: MiNK Therapeutics Inc is a clinical-stage biopharmaceutical company focused on developing allogeneic invariant natural killer T cell therapies to treat cancer and other life-threatening illnesses.
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Kirkland's
- The Trade: Kirkland's, Inc. (NASDAQ: KIRK) CFO W. Michael Madden acquired a total of 2,500 shares at an average price of $1.76. The insider spent $4,400 to buy those shares.
- What’s Happening: Kirkland's reported weaker-than-expected second-quarter FY23 results.
- What Kirkland's Does: Kirkland's Inc is a specialty retailer of home decor and gifts in the United States.
- The Trade: Capricor Therapeutics, Inc. (NASDAQ: CAPR) Director David Musket acquired a total of 2,500 shares at an average price of $2.90. The insider spent around $7,250.
- What’s Happening: Capricor Therapeutics announced a $23 million registered direct offering.
- What Capricor Therapeutics Does: Capricor Therapeutics Inc is a United States-based biotechnology company focused on the discovery, development, and commercialization of first-in-class biological therapies for the treatment of diseases, with a focus on Duchenne muscular dystrophy and other medical conditions.
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