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.
Mustang Bio
The Trade: Mustang Bio, Inc. (NASDAQ:MBIO) President and CEO Manuel Litchman acquired a total of 86206 shares shares at an average price of $2.91. The insider spent $250,859.46 to buy those shares.
What’s Happening: The European Medicines Agency recently granted Priority Medicines designation to Mustang Bio’s MB-107 for X-linked severe combined immunodeficiency (X-SCID) in newly diagnosed infants, also known as bubble boy disease.
What Mustang Bio Does: Mustang Bio Inc is a clinical-stage biopharmaceutical company focused on the acquisition, development, and commercialization of novel cancer immunotherapy products designed to utilize the power of the patient's own immune system to eliminate cancer cells.
Amergent Hospitality
The Trade: Amergent Hospitality Group, Inc. (OTC:AMHG) President Frederick L Glick acquired a total of 50000 shares at an average price of $0.47. To acquire these shares, it cost $23,500.00.
What’s Happening: Amergent Hospitality shares dropped more than 9% over the previous month.
What Amergent Hospitality Does: Amergent Hospitality Group Inc owns, operates, and franchises restaurant brands.
Emmaus Life Sciences
The Trade: Emmaus Life Sciences, Inc. (OTC:EMMA) Chairman and CEO Yutaka Niihara acquired a total of 7600 shares shares at an average price of $1.48. The insider spent $11,248.00 to buy those shares.
What’s Happening: Emmaus Life Sciences shares jumped more than 14% since the start of the year.
What Emmaus Life Sciences Does: Emmaus Life Sciences Inc is a biopharmaceutical company engaged in the discovery, development, and commercialization of new treatments and therapies primarily for rare and orphan diseases.