Benzinga - by Lisa Levin, Benzinga Editor.
The Dow Jones closed lower by around 388 points on Tuesday. 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.
Alzamend Neuro
- The Trade: Alzamend Neuro, Inc. (NASDAQ: ALZN) Chief Financial Officer David J Katzoff acquired a total of 53,000 shares an average price of $0.19. To acquire these shares, it cost around $10,234.
- What’s Happening: Alzamend Neuro submitted an investigational new drug (IND) application to the FDA to initiate AL001-BD01, a Phase 2A study of AL001 for bipolar disorder.
- What Alzamend Neuro Does: Alzamend Neuro Inc is an early clinical-stage biopharmaceutical company. It is focused on developing novel products for the treatment of neurodegenerative diseases and psychiatric disorders, including Alzheimer's.
- The Trade: Chimerix, Inc. (NASDAQ: CMRX) Director Fred Middleton acquired a total of 20,000 shares at an average price of $0.98. To acquire these shares, it cost around $19,636.
- What’s Happening: Chimerix posted a narrower-than-expected second-quarter loss.
- What Chimerix Does: Chimerix Inc. is a biopharmaceutical company based in the United States that engages in the research, development, and commercialization of medicines.
NetSol Technologies
- The Trade: NetSol Technologies, Inc. (NASDAQ: NTWK) CEO Najeeb Ghauri acquired a total of 10,000 shares at an average price of $1.88. The insider spent $18,800 to buy those shares.
- What’s Happening: NETSOL Technologies posted a wider loss for the fourth quarter.
- What NetSol Technologies Does: NETSOL Technologies Inc is involved in providing information technology and enterprise software solutions.
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