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.
Insider Moves in Penny Stocks
- The Scoop: Director Camilla Velasquez acquired 1,976 shares of Porch Group, Inc. (PRCH) at an average price of $2.53, totaling around $4,999.
- Company Update: Porch Group sealed a strategic business collaboration agreement with Aon, which resulted in receiving approximately $25 million upfront.
- Porch’s Profile: Porch Group Inc is a vertical software company reinventing the home services and insurance industries with its software and services.
Vivani Medical and BioRestorative Therapies
- The Deal: Director Gregg Williams purchased 2,190 shares of Vivani Medical, Inc. (VANI) at an average price of $1.01, costing roughly $2,212.
- Recent News: Vivani Medical posted a wider-than-expected quarterly loss in November.
- Vivani’s Business: Vivani Medical Inc is a preclinical stage biopharmaceutical company developing miniaturized, subdermal implants using its NanoPortal technology.
- Another Market Insider: 10% owner Dale Broadrick picked up 120,000 shares of BioRestorative Therapies, Inc. (BRTX) at an average price of $1.35, amounting to roughly $162,255.
- Company Announcement: BioRestorative Therapies revealed 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.
- BioRestorative’s Nature: BioRestorative Therapies Inc is a biotechnology company focusing 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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