The US economy added 372,000 payrolls in June, following a revised 384,000 growth in May. Investors, meanwhile, focused on some notable insider trades.
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.3
Titan Pharmaceuticals
- The Trade: Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) 10% owner Activist Investing LLC acquired a total of 2,226,190 shares at an average price of $0.86. To acquire these shares, it cost around $1.92 million.
- What’s Happening: Titan Pharmaceuticals received decision to grant European patent titled 'Implantable Devices For Drug Delivery With Reduced Burst Release.'
- What Titan Pharmaceuticals Does: Titan Pharmaceuticals Inc is a pharmaceutical company developing therapeutics utilizing its proprietary long-term drug delivery platform, ProNeura, for the treatment of select chronic diseases for which steady state delivery of a drug provides efficacy and/or safety benefit.
SeaChange International
- The Trade: SeaChange International, Inc. (NASDAQ:SEAC) 10% owner Karen Singer acquired a total of 201,978 shares at an average price of $0.57. The insider spent around $115.1 thousand to buy those shares.
- What’s Happening: SeaChange International and Trillerverz, the AI-powered open garden platform for creators, recently agreed to terminate their proposed merger signed on December 22, 2021.
- What SeaChange International Does: SeaChange International Inc is a provider of multiscreen video solutions for television service providers, telecommunications companies, satellite operators, and media companies.
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NextNav
- The Trade: NextNav Inc. (NASDAQ:NN) 10% owner Wocap Global Opportunity Investment Partners LP acquired a total of 19,631 shares at an average price of $2.15. To acquire these shares, it cost around $42.2 thousand.
- What’s Happening: MetCom and NextNav recently signed a commercial agreement to scale Pinnacle in Japan.
- What NextNav Does: NextNav Inc provides GPS service. The company NextNav TerraPoiNT system keeps critical infrastructure resilient with reliable Position, Navigation and Timing services in the absence of GPS.
9 Meters Biopharma
- The Trade: 9 Meters Biopharma, Inc. (NASDAQ:NMTR) CEO John Temperato acquired a total of 125,000 shares at an average price of $0.23. The insider spent $28.46 thousand to buy those shares.
- What’s Happening: Maxim Group recently downgraded 9 Meters Biopharma from Buy to Hold.
- What 9 Meters Biopharma Does: 9 Meters Biopharma Inc is a clinical-stage biopharmaceutical company focused on rare and unmet needs in gastroenterology.
