The Dow Jones collapsed more than 450 points on Thursday. 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
IN8bio
- The trade: IN8bio, Inc. IN FROM Director Cavu Advisors, LLC bought a total of 25,000 shares at an average price of $2.02. Acquisition of these shares cost about 50.53 thousand US dollars.
- What’s happening: HC Wainwright & Co. last month began coverage of IN8bio with a buy rating and announced a price target of $14.
- What IN8bio does: IN8bio Inc is a clinical-stage biotechnology company.
verify me
- The trade: VerifyMe, Inc. VRME Director Marshall S Geller acquired a total of 2,006 shares at an average price of $1.18. The insider spent around $2.37,000 to buy these shares.
- What’s happening: The company’s stock is down around 9% over the past month.
- What VerifyMe does: VerifyMe Inc is a technology solutions company based in the United States. It markets a broad patent portfolio that includes patents in the area of authentication of products, people and financial transactions.
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Nexalin technology
- The trade: Nexalin Technology, Inc. NXL Leonard Osser acquired a total of 9,500 shares at an average price of $1.12. The purchase of these shares cost around US$10.64,000.
- What’s happening: Nexalin Technology recently priced its IPO at $4.15 per share.
- What Nexalin technology can do: Nexalin Technology Inc designs and develops innovative neurostimulation products to provide a unique and effective way to combat persistent…
