The Dow Jones saw a decline of approximately 200 points on Wednesday, indicating concerns and uncertainties among investors. When company insiders buy or sell shares, it often reflects their confidence or apprehension regarding the company’s future. This information can be useful for investors and traders interested in penny stocks, as it provides insight into the overall investment landscape.
Here are some recent notable insider transactions in penny stocks:
Director Phillip Barnes of VolitionRx Limited (VNRX) acquired 5,000 shares at an average price of $1.30, resulting in a total cost of approximately $6,500. This purchase followed VolitionRx’s announcement of a narrower-than-expected quarterly loss. VolitionRx is a US-based epigenetics company that utilizes its Nucleosomics platform to develop cost-effective blood tests for diagnosing and monitoring various diseases, including certain cancers and diseases associated with NETosis like sepsis and COVID-19.
Chairman and CEO Quang Pham of Cadrenal Therapeutics, Inc. (CVDK) bought 40,000 shares at an average price of $0.90, amounting to approximately $36,188. This insider transaction coincided with Cadrenal Therapeutics recognizing the need for a new vitamin K antagonist, as indicated by recent updates from the European Society of Cardiology Congress. Cadrenal Therapeutics is focused on developing a novel therapy, tecarfarin, for the prevention of systemic thromboembolism in patients with end-stage renal disease and atrial fibrillation.
Director R. Tony Tripeny of Origin Materials, Inc. (ORGN) acquired 73,000 shares at an average price of $1.37, resulting in a total expenditure of approximately $100,054. This insider transaction coincided with Origin Materials appointing Pam Haley as interim Chief Financial Officer. Origin Materials is a carbon-negative materials company that converts biomass carbon into useful materials, eliminating the need for fossil resources and capturing carbon in the process.
Lind Global Fund II LP, a 10% owner of ReWalk Robotics Ltd. (RWLK), purchased 31,537 shares at an average price of $0.70, with a total investment of $22,190. Unfortunately, ReWalk Robotics reported disappointing results for the second quarter. This Israel-based medical device company specializes in designing, developing, and commercializing exoskeleton systems that enable individuals bound to wheelchairs to stand and walk again.
These insider transactions provide valuable information for investors and traders in penny stocks, helping them make informed investment decisions. It is important to conduct further research before making any investment moves.
– Benzinga’s Insider Transactions Platform