The Dow Jones index closed slightly lower on Thursday. 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.
Tecogen
- The Trade: Tecogen Inc. (OTC:TGEN) Director John Hatsopoulos acquired a total of 1,000 shares an average price of $0.70. To acquire these shares, it cost around $700.
- What's Happening: On March 13, Tecogen reported revenues of $5.9 million and a net loss of $1.8 million for the quarter ended Dec. 31, 2023.
- What Tecogen Does: Tecogen Inc, designs, manufactures, markets, and maintains high-efficiency, ultra-clean cogeneration products.
Augusta Gold
- The Trade: Augusta Gold Corp. (OTC:AUGG) Executive Chairman Richard W Warke acquired a total of 5,000 shares at at an average price of $0.81. To acquire these shares, it cost around $4,050.
- What's Happening: On March 28, Augusta Gold named Ty Minnick as interim CFO.
- What Augusta Gold Does: Augusta Gold Corp is an exploration-stage company. The company is primarily engaged in the acquisition and exploration of gold properties. It operates Bullfrog Project, located in Beatty town of Las Vegas, Nevada.
Palatin Technologies
- The Trade: Palatin Technologies, Inc. (NYSE:PTN) Director Robert K Deveer Jr acquired a total of 6,000 shares at an average price of $2.12. The insider spent around $12,703 to buy those shares.
- What's Happening: On Monday, Palatin Technologies announced the presentation of topline results for its Phase 3 PL9643 MELODY-1 trial, which evaluated the safety and efficacy of PL9643 versus vehicle in the treatment of dry eye disease (DED) at the American Society of Cataract and Refractive Surgery.
- What Palatin Technologies Does: Palatin Technologies Inc is a part of the healthcare sector. The company is engaged in developing targeted, receptor-specific peptide therapeutics for the treatment of diseases with unmet medical needs and commercial potential.
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