Benzinga - by Avi Kapoor, Benzinga Staff Writer.
The Dow Jones index closed lower by over 150 points on Monday. 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.
FTC Solar
- The Trade: FTC Solar, Inc. (NASDAQ: FTCI) Director Ahmad R Chatila acquired a total of 92,600 shares an average price of $0.55. To acquire these shares, it cost around $50,930.
- What’s Happening: On March 13, FTC Solar posted upbeat quarterly sales.
- What FTC Solar Does: FTC Solar Inc is a provider of solar tracker systems, supported by proprietary software and value-added engineering services.
- The Trade: Ocuphire Pharma, Inc. (NASDAQ: OCUP) CFO Nirav S. Jhaveri acquired a total of 10,000 shares at at an average price of $2.10. To acquire these shares, it cost around $21,000. The company’s COO Joseph K Schachle also bought 2,000 shares.
- What’s Happening: On March 8, Ocuphire Pharma posted fourth-quarter sales of $1.700 million.
- What Ocuphire Pharma Does: Ocuphire Pharma Inc is a clinical-stage ophthalmic biopharmaceutical company focused on developing and commercializing therapies for the treatment of refractive and retinal eye disorders.
Design Therapeutics
- The Trade: Design Therapeutics, Inc. (NASDAQ: DSGN) Director John P. Schmid acquired a total of 26,965 shares at an average price of $3.70. The insider spent around $99,738 to buy those shares. The company’d Director Heather A. Berger also bought 1,300 shares.
- What’s Happening: On March 19, Design Therapeutics posted a narrower-than-expected quarterly loss.
- What Design Therapeutics Does: Design Therapeutics Inc is a clinical-stage biopharmaceutical company engaged in the research and development of GeneTACTM molecules, which are a novel class of small-molecule gene-targeted chimera therapeutic candidates designed to be disease-modifying by addressing the underlying cause of diseases caused by inherited nucleotide repeat expansion mutations.
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