Friday saw the Dow Jones index closing over 50 points lower. Insider transactions, be it purchases or sales of shares, a proverbial guessing game, are often used as an indicator of a company’s prospects. The revelation of insider activity in the realm of penny stocks could potentially sway the stance of investors and traders.
Take a gander at some recent incidents of insider transactions within the penny stock space. For further explorations, do swing by Benzinga’s insider transactions platform.
The Porch Group Insiders
- The Deal: An insider at Porch Group, Inc. PRCH – Director Camilla Velasquez – sought out 1,976 shares at an average of $2.53, implying a cash-out of approximately $4,999.
- Happenings: Porch Group has inked a strategic business collaboration with Aon, effectively absorbing an upfront sum of around $25 million.
- The Company’s Niche: A vertical software company in a renaissance of sorts, as it seeks to reshape the landscape of the home services and insurance domains. It operates within two primary segments – The Vertical Software segment, which extends software and services to home service companies.
Vivani Medical Insider Activity
- The Trade: Vivani Medical, Inc. VANI – Director Gregg Williams – snapped up a total of 2,190 shares at an average price of $1.01, amounting to an investment of about $2,212.
- What Went Down: Vivani Medical encountered an unexpected quarterly loss in November, marking a period of adversity.
- The Company’s Domain: A preclinical stage biopharmaceutical company specializing in the development of miniaturized, subdermal implants through its proprietary NanoPortal technology for the long-term, near constant-rate delivery of medications to tackle chronic illnesses.
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BioRestorative Therapies’ Insider Story
- Bargain Hunting: An impressive acquisition by BioRestorative Therapies, Inc. BRTX – 10% owner Dale Broadrick – who invested in a total of 120,000 shares at an average price of $1.35, shelling out approximately $162,255 for these vested interests.
- The Situation: BioRestorative Therapies has publicized the exercise of warrants and the issuance of new warrants in a private placement, netting the company $8.1 million in gross proceeds, aptly priced at-the-market.
- Company’s Calling: A United States-based biotech enterprise dedicated to the evolution of regenerative medicine products and therapies harnessing cell and tissue protocols, predominantly centered around adult (non-embryonic) stem cells.
Why not peruse our premarket scuttlebutt here?
