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The Dow Jones jumped by more than 750 points on Monday. Investors, meanwhile, focused on some notable insider trades.
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.3
ChromaDex
- The Trade: ChromaDex Corporation CDXC 10% owner Dvorak International Ltd bought a total of 960,000 shares at an average price of $1.25. To acquire these shares, it cost around $1.2 million.
- What’s Happening: ChromaDex announced findings from study on safety and tolerability of nicotinamide riboside in heart failure with reduced ejection fraction.
- What ChromaDex Does: ChromaDex Corp is a bioscience company dedicated to healthy aging. The ChromaDex team is engaged in research on nicotinamide adenine dinucleotide (NAD+), levels of which decline with age.
Chimerix
- The Trade: Chimerix, Inc. CMRX Director Fred Middleton acquired a total of 20,000 shares at an average price of $1.86. The insider spent around $37.18 thousand to buy those shares.
- What’s Happening: Chimerix recently announced closing of TEMBEXA sale to Emergent BioSolutions.
- What Chimerix Does: Chimerix Inc. is a biopharmaceutical company based in the United States that engages in the research, development, and commercialization of medicines.
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TRACON Pharmaceuticals
- The Trade: TRACON Pharmaceuticals, Inc. TCON 10% owner Opaleye Management Inc acquired a total of 9,400 shares at an average price of $1.74. To acquire these shares, it cost around $16.37 thousand.
- What’s Happening: TRACON Pharmaceuticals, last month, announced $35 million non-dilutive debt financing with Runway Growth Capital.
- What TRACON Pharmaceuticals Does: TRACON Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of novel targeted therapeutics for cancer and utilizing its cost efficient, contract research organization (CRO) independent product development platform to partner with ex-U.S. companies to develop and commercialize innovative products in the United States.
Reviva Pharmaceuticals
- The Trade: Reviva Pharmaceuticals Holdings, Inc. RVPH Chief Financial Officer Narayan Prabhu acquired a total of 50,000 shares at an average price of $1.66. The insider spent $83 thousand to buy those shares.
- What’s Happening: Reviva Pharmaceuticals, last month, announced an $8.5 million registered direct offering and concurrent private placement priced at-the-market under Nasdaq rules.
- What Reviva Pharmaceuticals Does: Reviva Pharmaceuticals Holdings Inc is a clinical-stage biopharmaceutical company. It is developing a portfolio of internally discovered therapies that address unmet medical needs in the areas of central nervous system, respiratory, and metabolic diseases.
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Image and article originally from www.benzinga.com. Read the original article here.