Benzinga - The Dow Jones closed lower by more than 500 points on Wednesday following Fed’s rate decision. 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 10,000 shares an average price of $1.39. To acquire these shares, it cost around $13.9 thousand.
- What’s Happening: The FDA recently granted a Fast Track designation to Cadrenal Therapeutics tecarfarin for the prevention of systemic thromboembolism, more commonly referred to as blood clots, of cardiac origin in patients with end-stage renal disease (ESRD) and atrial fibrillation (AFib).
- 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: PFSweb, Inc. (NASDAQ: PFSW) CEO/President Michael Willoughby acquired a total of 50,000 shares at an average price of $4.22. The insider spent around $211 thousand to buy those shares.
- What’s Happening: PFSweb announced authorization of share repurchase program of up to 1 million shares.
- What PFSweb Does: PFSweb Inc is a commerce services company.
MAIA Biotechnology
- The Trade: MAIA Biotechnology, Inc. (NYSE: MAIA) Director Stan Smith acquired a total of 5,742 shares at an average price of $3.23. To acquire these shares, it cost around $18.53 thousand.
- What’s Happening: MAIA Biotechnology dosed first patients in Europe in ongoing Phase 2 trial (THIO-101) evaluating THIO for non-small cell lung cancer treatment.
- What MAIA Biotechnology Does: MAIA Biotechnology Inc is a targeted therapy, immuno-oncology company focused on the development and commercialization of potential first-in-class drugs with novel mechanisms of action that are intended to meaningfully improve and extend the lives of people with cancer.
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