3 Stocks Under $2 Insiders Are Buying
US crude oil futures traded higher on Wednesday. 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
- The Trade: TRACON Pharmaceuticals, Inc. (NASDAQ:TCON) President and CEO Charles Theuer acquired a total of 2,500 shares at an average price of $1.97. To acquire these shares, it cost $4.92 thousand.
- What’s Happening: The company is expected to release quarterly earnings after the closing bell today.
- What TRACON Pharmaceuticals Does: TRACON Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of novel targeted therapeutics for cancer and utilizing its cost efficient, contract research organization (CRO) independent product development platform to partner with ex-U.S. companies to develop and commercialize innovative products in the United States.
- The Trade: Compass Therapeutics, Inc. (NASDAQ:CMPX) CEO Thomas J Schuetz acquired a total of 27,836 shares at an average price of $1.80. The insider spent around $50.1 thousand to buy those shares.
- What’s Happening: Compass Therapeutics posted a Q1 loss of $0.07 per share.
- What Compass Therapeutics Does: Compass Therapeutics Inc is a clinical-stage biopharmaceutical company that develops proprietary antibody therapeutics intended to engage the immune system to treat both solid tumors and hematological malignancies.
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Invesco Mortgage Capital
- The Trade: Invesco Mortgage Capital Inc. (NYSE:IVR) President Kevin Collins acquired a total of 7,178 shares at an average price of $1.67. To acquire these shares, it cost around $11.99 thousand.
- What’s Happening: The company recently posted upbeat quarterly earnings.
- What Invesco Mortgage Capital Does: Invesco Mortgage Capital Inc is an REIT that invests, finances, and manages residential and commercial mortgage-backed securities and mortgage loans.