U.S. stocks traded lower this morning on Thursday. 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
- The Trade: GBS Inc. GBS Chief Financial Officer Spiro Sakiris acquired a total of 15,970 shares at an average price of $0.61. To acquire these shares, it cost around $9.77 thousand.
- What’s Happening: GBS recently entered into exclusivity agreement with Intelligent Fingerprinting Limited in respect of GBS’s proposed acquisition of IF.
- What GBS Does: GBS Inc is a United States-based company engaged in manufacturing of Saliva Glucose Biosensor (SGB). SGB uses saliva to measure glucose non-invasively.
- The Trade: GeoVax Labs, Inc. GOVX Director Randal Chase acquired a total of 10,000 shares at an average price of $1.21. The insider spent around $12.1 thousand to buy those shares.
- What’s Happening: Geovax Labs recently filed prospectus related to resale of up to 21.4 million shares of common stock by selling stockholders
- What GeoVax Labs Does: Geovax Labs Inc is US-based clinical-stage biotechnology company. It is engaged in developing immunotherapies and vaccines against cancers and infectious diseases using a novel patented Modified Vaccinia Ankara-Virus Like Particle (GV-MVA-VLP) vector vaccine platform.
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- The Trade: Qualigen Therapeutics, Inc. QLGN Chairman and CEO Michael S Poirier acquired a total of 30,000 shares at an average price of $0.57. To acquire these shares, it cost around $17.1 thousand.
- What’s Happening: Qualigen Therapeutics recently announced IND-enabling studies to advance lead program QN-302 toward clinical trials.
- What Qualigen Therapeutics Does: Qualigen Therapeutics Inc is a biotechnology company focused on the development and commercialization of novel therapeutic products for the treatment of cancer and infectious diseases using nanoparticle coating technology.