Over $5M Bet On This Healthcare Stock? Check Out These 4 Penny Stocks Insiders Are Aggressively Buying

Author: Lisa Levin | August 31, 2023 08:40am

The Dow Jones closed slightly higher 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.

Carmell Therapeutics

• The Trade: Carmell Therapeutics Corporation (NASDAQ:CTCX) President and CEO Randolph W Hubbell acquired a total of 2,750 shares an average price of $3.67. To acquire these shares, it cost around $10,091.
• What’s Happening: Carmell Therapeutics announced a merger with Axoloti Biologix.
• What Carmell Therapeutics Does: Carmell Therapeutics Corp is a regenerative medicine biotech company focused on leveraging our core platform technology, Plasma-based Bioactive Material to stimulate tissue repair or growth after injury, disease or aging.

ClearOne

• The Trade: ClearOne, Inc. (NASDAQ:CLRO) 10% owner Edward D Bagley acquired a total of 5,171 shares at an average price of $0.84. The insider spent around $4,341.
• What’s Happening: ClearOne posted a loss for the second quarter.
• What ClearOne Does: ClearOne Inc is a communications solutions company, which is engaged in designing, developing, and selling conferencing, collaboration, streaming, and digital signage solutions for audio, video, and visual communication.

Design Therapeutics

• The Trade: Design Therapeutics, Inc. (NASDAQ:DSGN) Director Arsani William acquired a total of 2,235,000 shares at an average price of $2.40. To acquire these shares, it cost around $5.37 million. The company’s other Director also bought 12,000 shares.
• What’s Happening: Design Therapeutics reported initial results from its Phase 1 multiple-ascending dose study of DT-216 for the treatment of Friedrich ataxia.
• What Design Therapeutics Does: Design Therapeutics Inc is a clinical-stage biopharmaceutical company engaged in the research and development of GeneTACTM molecules, which are a novel class of small-molecule gene-targeted chimera therapeutic candidates designed to be disease-modifying by addressing the underlying cause of diseases caused by inherited nucleotide repeat expansion mutations.

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Telos

• The Trade: Telos Corporation (NASDAQ:TLS) Chairman and CEO John B Wood acquired a total of 90,402 shares at an average price of $2.05. The insider spent $185,026 to buy those shares.
• What’s Happening: Telos was awarded a five-year contract with Defense Information Systems Agency.
• What Telos Does: Telos Corp offers technologically advanced, software-based security solutions that empower and protect the world's security-conscious organizations against rapidly evolving, sophisticated and pervasive threats.

Posted In: CLRO CTCX DSGN TLS