The Dow Jones collapsed by around 100 points on Wednesday. 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
NGM biopharmaceuticals
- The trade: NGM Biopharmaceuticals, Inc. NGM Director David Goeddel V bought a total of 130,000 shares at an average price of $3.56. Acquisition of these shares cost about 462.4 thousand US dollars.
- What’s happening: NGM Biopharmaceuticals recently announced that its Phase 2 CATALINA study of NGM621 failed to meet its primary endpoint.
- What NGM Biopharmaceuticals does: NGM Biopharmaceuticals Inc is a clinical-stage biopharmaceutical company.
TRACON Pharma
- The trade: TRACON Pharmaceuticals, Inc. TCON 10% owner Opaleye Management Inc acquired a total of 12,500 shares at an average price of $1.65. The insider spent around $20.63k to buy those shares.
- What’s happening: TRACON Pharmaceuticals recently announced the results of an independent data monitoring committee review of 12-week safety data from the pivotal Phase 2 ENVASARC study.
- What TRACON Pharmaceuticals does: TRACON Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of novel targeted therapeutics for cancer, leveraging its cost-effective, contract research organization (CRO) independent product development platform to collaborate with ex-US companies to develop and commercialize innovative products market The United States.
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Cabaletta Bio
- The trade: Cabaletta Bio, Inc. CABA President and CEO Steven…
