The Dow Jones index closed lower by more than 50 points on Friday. 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.
Porch Group
- The Trade: Porch Group, Inc. (NASDAQ:PRCH) Director Camilla Velasquez acquired a total of 1,976 shares an average price of $2.53. To acquire these shares, it cost around $4,999.
- What’s Happening: Porch Group signed a strategic business collaboration agreement with Aon, resulting in the company receiving approximately $25 million upfront.
- What Porch Group Does: Porch Group Inc is a vertical software company reinventing the home services and insurance industries. It has two reportable segments: The vertical Software segment provides software and services to home services companies.
Vivani Medical
- The Trade: Vivani Medical, Inc. (NASDAQ:VANI) Director Gregg Williams acquired a total of 2,190 shares at at an average price of $1.01. To acquire these shares, it cost around $2,212.
- What’s Happening: Vivani Medical, during November, posted a wider-than-expected quarterly loss.
- What Vivani Medical Does: Vivani Medical Inc is a preclinical stage biopharmaceutical company. It develops miniaturized, subdermal implants utilizing its proprietary NanoPortal technology to enable long-term, near constant-rate delivery of a broad range of medicines to treat chronic diseases.
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BioRestorative Therapies
- The Trade: BioRestorative Therapies, Inc. (NASDAQ:BRTX) 10% owner Dale Broadrick acquired a total of 120,000 shares at an average price of $1.35. The insider spent around $162,255 to buy those shares.
- What’s Happening: BioRestorative Therapies announced the exercise of warrants and the issuance of new warrants in a private placement for $8.1 million in gross proceeds priced at-the-market.
- What BioRestorative Therapies Does: BioRestorative Therapies Inc is a biotechnology company based in the United States. It focuses on the development of regenerative medicine products and therapies using cell and tissue protocols, primarily involving adult (non-embryonic) stem cells.
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