US stock futures traded lower this morning on Thursday ahead of the producer price index. 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
OPKO Health
- The Trade: OPKO Health, Inc. (NASDAQ: OPK) 10% owner Frost Gamma Investments Trust acquired a total of 400,000 shares at an average price of $2.78. To acquire these shares, it cost $1.11 million.
- What’s Happening: OPKO Health recently posted a Q1 loss of $0.08 per share.
- What OPKO Health Does: OPKO Health Inc is a diversified biotechnology company that operates pharmaceutical and diagnostic development programs.
- The Trade: Selecta Biosciences, Inc. (NASDAQ: SELB) Director Timothy C Barabe acquired a total of 50,000 shares at an average price of $0.77. The insider spent around $38.72 thousand to buy those shares.
- What’s Happening: The company swung to a profit for the first quarter.
- What Selecta Biosciences Does: Selecta Biosciences Inc is a clinical-stage biopharmaceutical company. The company uses its ImmTOR immune tolerance platform, which is designed to give rise to antigen-specific immunity, mitigating unwanted immune responses.
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Sharps Technology
- The Trade: Sharps Technology, Inc. (NASDAQ: STSS) Director Timothy J. Ruemler acquired a total of 112,000 shares at an average price of $1.25. To acquire these shares, it cost around $140 thousand.
- What’s Happening: Sharps Technology, last month, reported closing of $16 million initial public offering.
- What Sharps Technology Does: Sharps Technology Inc is a medical device company. It offers syringes and other safety products.
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- The Trade: Retractable Technologies, Inc. (NYSE: RVP) 10% owner Braden Michael Leonard acquired a total of 73,464 shares at an average price of $3.83. The insider spent $281.04 thousand to buy those shares.
- What’s Happening: Retractable Technologies, last month, announced termination of buyback plan.
- What Retractable Technologies Does: Retractable Technologies Inc designs, develops, manufactures, and markets safety syringes and other safety medical products for the healthcare profession.
Read at Benzinga