The Dow Jones index closed higher by over 450 points on Thursday. What stocks are insiders buying or selling — and what are the implications for investors? Let’s delve into some recent insider transactions involving penny stocks, shedding light on the confidence or concern around the companies’ prospects.
Below is a look at a few recent notable insider transactions for penny stocks
GeoVax Labs
- The Trade: GeoVax Labs, Inc. GOVX President,
CEO David A Dodd acquired a total of 8,729 shares an average price of $2.27. To
acquire these shares, it cost around $19,781. - What’s Happening: GeoVax is expected to report 2023 financial results on Feb.
29, 2024. - What GeoVax Labs Does: Geovax Labs Inc is a clinical-stage biotechnology company
developing human vaccines and immunotherapies against infectious diseases and solid tumor
cancers using novel proprietary platforms.
Beneficient
- The Trade: Beneficient BENF
Director Peter T Cangany Jr acquired a total of 400,000 shares at at an average
price of $0.26. To acquire these shares, it cost around $102,000. - What’s Happening: On Feb. 13, Beneficient posted a wider quarterly loss.
- What Beneficient Does: Beneficient is a technology-enabled financial services
holding company that (together with its subsidiaries) provides simple, rapid, and
cost-effective liquidity solutions to participants in the alternative asset industry through
its end-to-end online platform, AltAccess.
InMed Pharmaceuticals
- The Trade: InMed Pharmaceuticals Inc. INM Director
Andrew Hull acquired a total of 37,500 shares at an average price of $0.39. The
insider spent around $14,625 to buy those shares. - What’s Happening: InMed Pharmaceuticals, on Oct. 24, said it selected a lead
Alzheimer’s drug candidate following positive proof-of-concept study data. - What InMed Pharmaceuticals Does: InMed Pharmaceuticals Inc is a Canada based
clinical-stage biopharmaceutical company.
Don’t forget to check out our premarket coverage here
