Over $395M Bet On This Biotechnology Stock? Check Out These 4 Penny Stocks Insiders Are Buying

Author: Lisa Levin | March 09, 2023 07:47am

The Dow Jones closed lower on Wednesday. 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.

Summit Therapeutics

The Trade: Summit Therapeutics Inc. (NASDAQ:SMMT) CEO Robert W Duggan bought a total of 376,489,880 shares at an average price of $1.05. To acquire these shares, it cost around $395.31 million. The company’s Co-CEO and CFO also acquired shares of the company.
What’s Happening: Akeso announced a collaboration and license agreement with Summit Therapeutics to out-license its breakthrough bispecific antibody, ivonescimab (PD-1/VEGF, AK112) for development and commercialization in the U.S., Canada, Europe, and Japan.
What Summit Therapeutics Does: Summit Therapeutics Inc is a biopharmaceutical company that focuses on the discovery, development, and commercialization of novel antibiotics for serious infectious diseases.

Coeur Mining

The Trade: Coeur Mining, Inc. (NYSE:CDE) Director Kenneth Thompson acquired a total 10,000 shares shares at an average price of $2.93. The insider spent around $29.29 thousand to buy those shares.
What’s Happening: Coeur Mining posted a Q4 loss of $0.32 per share.
What Coeur Mining Does: Coeur Mining Inc is a metals producer focused on mining precious minerals in the Americas.

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New Peoples Bankshares

The Trade: New Peoples Bankshares, Inc. (OTC:NWPP) Director B. Scott White acquired a total of 50,000 shares at an average price of $2.35. To acquire these shares, it cost around $117.5 thousand.
What’s Happening: The company’s stock dropped around 2% over the past month.
What New Peoples Bankshares Does: New Peoples Bankshares Inc is a bank holding company for New Peoples Bank.

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ReWalk Robotics

The Trade: ReWalk Robotics Ltd. (NASDAQ:RWLK) 10% owner Lind Global Macro Fund LP acquired a total of 237,233 shares at an average price of $0.80. The insider spent $188.77 thousand to buy those shares.
What’s Happening: ReWalk announced the FDA clearance of ReWalk Personal Exoskeleton for use on stairs and curbs in US.
What ReWalk Robotics Does: ReWalk Robotics Ltd is an Israel based medical device company.

Posted In: CDE NWPP RWLK SMMT