US oil futures were trading higher this Wednesday morning. 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
PEDEVCO
- The trade: PEDEVCO Corp. PED 10% owner SK Energy LLC bought a total of 187,648 shares at an average price of $0.98. The purchase of these shares cost around US$184.27,000.
- What’s happening: Pedevco posted 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.
eFFECTOR therapeutics
- The trade: EFFECTOR Therapeutics, Inc. EFTR Director Christopher B. Ehrlich a total of 18,867 shares were acquired at an average price of $0.55. The insider spent around $10.38,000 to buy these shares.
- What’s happening: eFFECTOR Therapeutics recently announced that it has administered zotatifin to the first patient in the second cohort of the Phase 1b clinical trial for the treatment of COVID-19.
- What eFFECTOR Therapeutics does: eFFECTOR Therapeutics Inc. is a clinical-stage biopharmaceutical company focused on pioneering the development of a new class of anticancer drugs termed selective translational regulator inhibitors (STRIs).
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Aspen group
- The trade: Aspen Group, Inc. ASPU Director Douglas Kass acquired a total of 61,500 shares at an average price of $0.42. Acquisition of these shares cost about 25.82 thousand US dollars.
- What’s happening: Aspen Group recently posted a first-quarter loss of…
