4 Penny Stocks Insiders Are Buying

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.

CASI Pharmaceuticals

The Trade: CASI Pharmaceuticals, Inc. CASI Chairman & CEO Wei-Wu He acquired a total of 480000 shares at an average price of $1.28. To acquire these shares, it cost $613,800.00.

What’s Happening: CASI Pharmaceuticals, earlier during the month, reported results for the second quarter.

What CASI Pharmaceuticals Does: CASI Pharmaceuticals Inc is a biopharmaceutical company that focuses on commercializing innovative therapeutics and pharmaceutical products.

ServiceSource International

The Trade: ServiceSource International, Inc. SREV 10% owner Edenbrook Capital Llc, Jonathan Brolin acquired a total of 25000 shares shares at an average price of $1.51. The insider spent $37,750.00 to buy those shares.

What’s Happening: ServiceSource, last month, reported a Q2 loss of $0.01 per share.

What ServiceSource International Does: ServiceSource International is a provider of customer and revenue lifecycle management solutions.

Marchex

The Trade: Marchex, Inc. MCHX 10% owner Edenbrook Capital Llc, Edenbrook Long Only Value Fund Lp, Jonathan Brolin acquired a total of 17849 shares at an average price of $2.90. To acquire these shares, it cost $51,685.75.

What’s Happening: Marchex, earlier during the month, posted upbeat results for the second quarter.

What Marchex Does: Marchex is a conversational analytics and solutions company that helps businesses connect, drive, measure, convert callers into customers, and connects the voice of the customer to their business.

Qualigen Therapeutics

The Trade: Qualigen Therapeutics, Inc. QLGN Director Kurt H Kruger acquired a total of 8000 shares shares at an average price of 1.23. The insider spent $9,800.00 to buy those shares.

What’s Happening: Qualigen Therapeutics, last week, said it would pivot away from development of QN-165 for COVID-19 and refocus on its oncology pipeline, citing a 'crowded' COVID-19 therapeutic landscape.

What Qualigen Therapeutics Does: Qualigen Therapeutics Inc is a biotechnology company focused on the development and commercialization of novel therapeutic products for the treatment of cancer and infectious diseases using nanoparticle coating technology.