The Dow Jones fell more than 300 points on Tuesday. Investors, meanwhile, focused on some notable insider trading.
When insiders buy or sell stock, it shows their confidence or concern about the company’s prospects. Investors and traders interested in penny stocks may consider this as a factor in their overall investment or trading decision.
Below is a look at some notable penny stock insider trades. For more information, see Benzinga insider trading platform.3
Larimar therapeutics
- The trade: Larimar Therapeutics, Inc. LRMR 10% owner Deerfield Private Design Fund IV, LP bought a total of 11,111,108 shares at an average price of $3.15. The purchase of these shares cost around 35 million US dollars.
- What’s happening: Larimar Therapeutics recently announced FDA approval to initiate a 25 mg cohort of a Phase 2 dose-exploratory study of CTI-1601 in Friedreich’s Ataxia patients.
- What Larimar Therapeutics does: Larimar Therapeutics Inc is a clinical-stage biotechnology company focused on developing treatments for patients suffering from complex rare diseases using a novel cell-penetrating peptide technology platform.
PEDEVCO
- The trade: PEDEVCO Corp. PED 10% owner SK Energy LLC a total of 202,619 shares were acquired at an average price of $1.30. The insider spent around $264,000 to buy those shares.
- What’s happening: Pedevco reported Q2 EPS of $0.04 last month.
- What PEDEVCO does: PEDEVCO Corp is an energy company. It is engaged in the acquisition, exploration, development and production of oil and natural gas shale properties in the Denver-Julesberg Basin (DJ Basin) of Colorado.
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advantageous solutions
- The trade: Advantage Solutions Inc. adv Director Brian K Ratzan acquired a total of 100,000 shares at an average price of $2.47. It cost around $247,000 to acquire these shares.
- What’s happening: Advantage…
