The Dow Jones dropped by more than 600 points on Friday. 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
WaveDancer
- The Trade: WaveDancer, Inc. (NASDAQ: WAVD) CEO James Gerald Benoit Jr bought a total of 9,500 shares at an average price of $1.06. To acquire these shares, it cost around $10.07 thousand.
- What’s Happening: WaveDancer, during August, posted Q2 sales of $4.30 million.
- What WaveDancer Does: WaveDancer Inc, formerly Information Analysis Inc is in the business of developing and maintaining information technology systems, modernizing client information systems, and performing professional services to government and commercial organizations.
- The Trade: Alzamend Neuro, Inc. (NASDAQ: ALZN) 10% owner Milton C. Ault III acquired a total of 1,000 shares at an average price of $1.43. The insider spent around $1.43 thousand to buy those shares.
- What’s Happening: Alzamend Neuro recently dosed its first healthy adult subject in its Phase 2A multiple ascending dose (MAD) study of AL001 in subjects with dementia related to Alzheimer's.
- 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.
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