Insiders’ Confidence in Penny Stocks
On Thursday, the Dow Jones closed lower by around 250 points. For investors and traders interested in penny stocks, one factor to consider in their decision-making process is insider transactions. When insiders purchase or sell shares, it reveals their confidence or concern about the company’s prospects.
Here are three recent notable insider transactions for penny stocks:
Black Diamond Therapeutics
- The Trade: Black Diamond Therapeutics, Inc. (BDTX) 10% owner BB Biotech AG acquired a total of 400,000 shares at an average price of $2.34, costing around $934,080.
- What’s Happening: Black Diamond Therapeutics presented dose escalation data demonstrating durable responses in patients with NSCLC from Phase 1 trial of BDTX-1535 at the AACR-NCI-EORTC International Conference.
- What Black Diamond Therapeutics Does: Black Diamond Therapeutics Inc is a precision oncology medicine company focused on the discovery and development of small molecule, tumor-agnostic therapies.
- The Trade: Bespoke Extracts, Inc. (BSPK) CEO Michael Feinsod acquired a total of 3,000 shares at an average price of $0.20, costing around $560.
- What’s Happening: The company’s stock fell around 5% year-to-date.
- What Bespoke Extracts Does: Bespoke Extracts Inc is focused on selling its proprietary line of specially-formulated, premium quality, hemp-derived CBD products.
- The Trade: Vivos Inc. (RDGL) CEO and President Micheal Korenko acquired a total of 100,000 shares at an average price of $0.05, spending $5,360.
- What’s Happening: The company’s stock declined 22% over the past month.
- What Vivos Does: Vivos Inc is a radiation oncology medical device company. It is engaged in the development of RadioGel, a brachytherapy device used for the high-dose treatment of non-resectable solid tumors.
In conclusion, monitoring insider transactions can provide valuable insights for investors and traders interested in penny stocks. By analyzing these recent notable insider transactions for Black Diamond Therapeutics, Bespoke Extracts, and Vivos, one can gain a better understanding of the confidence and prospects associated with these companies.