When insiders buy or sell stock, it indicates their confidence or concern about the company’s prospects. Investors and traders interested in penny stocks may consider it a factor in their overall investment or trading decision.
Below are some recent notable insider trades for penny stocks. For more, check out Benzinga’s Insider Trading platform.
The trade: Ken Labs, Inc. (OTC: KNWN) Director Ronald P Erickson acquired a total of 5000 shares at an average price of $2.53. To acquire these shares it cost $12,650.00.
What is going on: The company’s stock is up more than 10% in the past month.
What Know Labs does?: Know Labs is focused on developing, marketing and selling patented technologies capable of uniquely identifying or authenticating almost any substance or material using electromagnetic energy to identify the unique signature of the substance or material known as Capture, detect and identify Bio -RFID and ChromaID technologies.
The trade: Live XLive Media, Inc. (NASDAQ: LIVX) CEO and Chairman Robert S Ellin acquired a total of 10,000 shares shares at an average price of $3.25. The insider spent $32,503.00 to buy those shares.
What is going on: LiveXLive Media plans to change its name to “LiveOne, Inc” and adopt a new Nasdaq stock symbol “LVO” in the coming weeks.
What LiveXLive Media does: LiveXLive Media are the premium internet networks dedicated to live music and music related video content.
The trade: Cidara Therapeutics, Inc. (NASDAQ: CDTX) Director Timothy R Franson acquired a total of 7000 shares at an average price of $2.12. To acquire these shares, it cost $14,822.50.
What is going on: Cidara Therapeutics and Mundipharma announced last month the completion of enrollment in the Phase 3 ReSTORE trial of rezafungin for the treatment of candidemia and invasive candidiasis.
What Cidara Therapeutics Does?: Cidara Therapeutics is a biotechnology company. It is focused on the discovery, development and commercialization of novel anti-infectives for the treatment and prevention of disease.
The trade: Soleno Therapeutics, Inc. (NASDAQ: SLNO) Chief Financial Officer James MacKaness acquired a total of 6060 shares at an average price of $1.65. To acquire these shares it cost $9.999.00.
What is going on: Soleno Therapeutics recently announced the top results of its ongoing open-label extension study evaluating DCCR (Diazoxide Choline) extended-release tablets for Prader-Willi syndrome (PWS).
What Soleno Therapeutics Does?: Soleno Therapeutics is focused on the development and commercialization of novel therapies for the treatment of rare diseases.
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