The Dow Jones dropped by around 170 points on Wednesday following the release of Fed minutes. 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
OncoCyte
- The Trade: OncoCyte Corporation (NASDAQ: OCX) Director John Peter Gutfreund bought a total of 35,000 shares at an average price of $0.93. To acquire these shares, it cost around $23.25 thousand.
- What’s Happening: Oncocyte recently reported a Q2 loss of $0.07 per share.
- What OncoCyte Does: OncoCyte Corp focuses on the discovery, development, and commercialization of novel, non-invasive, liquid biopsy diagnostics for the early detection of cancer.
- The Trade: Marpai, Inc. (NASDAQ: MRAI) Director Yaron Eitan acquired a total of 31,000 shares at an average price of $0.79. The insider spent around $24.49 thousand to buy those shares.
- What’s Happening: Marpai posted a Q2 loss of $0.34 per share.
- What Marpai Does: Marpai Inc operates as a health plan company. It uses A.I. to predict and help prevent costly events for its members, and in turn, lower its clients' health care costs.
Don’t forget to check out our premarket coverage here .
Summit Therapeutics
- The Trade: Summit Therapeutics Inc. (NASDAQ: SMMT) CFO Ankur Dhingra acquired a total of 36,215 shares at an average price of $0.97. To acquire these shares, it cost around $35.13 thousand.
- What’s Happening: Summit Therapeutics recently posted a Q2 loss of $0.17 per share.
- What Summit Therapeutics Does: Summit Therapeutics Inc is a biopharmaceutical company that focuses on the discovery, development, and commercialization of novel antibiotics for serious infectious diseases.
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