The Dow Jones closed lower by more than 300 points on Thursday. When insiders purchase or sell shares, it indicates their confidence or concern around the company’s prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.
Below is a look at a few recent notable insider transactions for penny stocks. For more, check out Benzinga’s insider transactions platform.
Biodesix
- The Trade: Biodesix, Inc. BDSX 10% owner Lawrence T. Kennedy Jr. bought a total of 10,869,565 shares at an average price of $1.15. To acquire these shares, it cost around $12.5 million.
- What’s Happening: Biodesix, during November, posted a Q3 GAAP loss of $0.34 per share.
- What Biodesix Does: Biodesix Inc is a data-driven diagnostic solutions company. Its artificial intelligence-based platform helps to discover, develop, and commercialize solutions for clinical unmet needs, with a focus on lung disease.
Xos
- The Trade: Xos, Inc. XOS Director George N Mattson acquired a total of 184,597 shares at an average price of $0.58. The insider spent around $106.99 thousand to buy those shares.
- What’s Happening: Xos, on December 28, received a deficiency letter from listing qualifications department of Nasdaq.
- What Xos Does: Xos Inc is an electric mobility company. It designs and develops fully electric battery mobility systems specifically for commercial fleets.
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Protalix BioTherapeutics
- The Trade: Protalix BioTherapeutics, Inc. PLX Director Aharon Schwartz acquired a total of 110,000 shares at an average price of $1.42. To acquire these shares, it cost around $155.81 thousand.
- What’s Happening: Protalix BioTherapeutics and Chiesi Global Rare Diseases, last month, announced U.S. FDA acceptance of a resubmitted Biologics License Application for Pegunigalsidase Alfa for the proposed treatment of Fabry disease.
- What Protalix BioTherapeutics Does: Protalix BioTherapeutics Inc is a biopharmaceutical company focused on the development and commercialization of recombinant therapeutic proteins based on its proprietary ProCellEx protein expression system or ProCellEx.
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NanoVibronix
- The Trade: NanoVibronix, Inc. NAOV Director Thomas Mika acquired a total of 50,000 shares at an average price of $0.25. The insider spent $12.5 thousand to buy those shares.
- What’s Happening: NanoVibronix recently announced a partnership with Peak Medical, Ltd.
- What NanoVibronix Does: NanoVibronix Inc manufactures noninvasive biological response-activating devices that target biofilm prevention, pain therapy, and wound healing and can be administered at home, without the assistance of medical professionals.