The Dow Jones index closed lower by 0.5% on Monday. 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.
MultiPlan
- The Trade: MultiPlan Corporation (NYSE:MPLN) Director Anthony Colaluca Jr bought a total of 160,000 shares at an average price of $0.60. To acquire these shares, it cost around $96,000.
- What's Happening: On May 8, MultiPlan posted a GAAP loss of 83 cents per share.
- What MultiPlan Does: MultiPlan Corp is a provider of data analytics and technology-enabled solutions designed to bring affordability, efficiency, and fairness to the U.S. healthcare industry.
Fresh Tracks Therapeutics
- The Trade: Fresh Tracks Therapeutics, Inc. (OTC:FRTX) 10% owner Exploration Capital, LLC acquired a total of 74,565 shares at an average price of $0.92. To acquire these shares, it cost around $68,592.
- What's Happening: The company's stock gained around 16% over the past six months.
Clover Health Investments
- The Trade: Clover Health Investments, Corp. (NASDAQ:CLOV) Director Anna U Loengard acquired a total of 27,085 shares at an average price of $0.94. The insider spent around $25,672 to buy those shares.
- What's Happening: On May 7, Clover Health Investments reported better than expected first-quarter financial results.
- What Clover Health Investments Does: Clover Health Investments Corp is a healthcare technology company. It focuses on empowering Medicare physicians to proactively manage chronic diseases through its proprietary software platform, Clover Assistant.
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