Insiders’ Stock Purchases Signal Confidence in Penny Stocks

The Dow Jones index closed lower by more than 100 points 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.

Blue Star Foods

• The Trade: Blue Star Foods Corp. BSFC Director Nubar Herian acquired a total of 219,611 shares at an average price of $0.14. To acquire these shares, it cost around $30,636.
• What’s Happening: On Feb. 21, Blue Star Foods signed a master service agreement with a seafood value-added provider.
• What Blue Star Foods Does: Blue Star Foods Corp is an international seafood company based in Miami. It imports, packages, and sells refrigerated pasteurized crab meat, and other premium seafood products.

Ekso Bionics

• The Trade: Ekso Bionics Holdings, Inc. EKSO Director Corinna Lathan acquired a total of 13,733 shares at an average price of $1.13. To acquire these shares, it cost around $15,477.
• What’s Happening: On March 4, Ekso Bionics reported mixed fourth-quarter financial results.
• What Ekso Bionics Does: Ekso Bionics Holdings Inc designs, develops, and sells exoskeleton technology used in healthcare and industrial markets.

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Cognition Therapeutics

• The Trade: Cognition Therapeutics, Inc. CGTX CEO and President Lisa Ricciardi acquired a total of 5,700 shares at an average price of $1.75. The insider spent around $9,975 to buy those shares.
• What’s Happening: Cognition Therapeutics announced the closing of an $11.5 million public offering of common stock.
• What Cognition Therapeutics Does: Cognition Therapeutics Inc is a clinical-stage biopharmaceutical company engaged in the discovery and development of innovative, small-molecule therapeutics targeting age-related degenerative diseases and disorders of the central nervous system and retina.