2 Penny Stocks Insiders Are Buying

When insiders purchase shares, it indicates their confidence in the company's prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.

Below is a look at a few recent notable insider purchases. For more, check out Benzinga's insider transactions platform.

Longeveron

The Trade: Longeveron Inc. LGVN Chief Scientific Officer Joshua Hare acquired a total of 5000 shares at an average price of $3.39. The insider spent $16,930.15 to acquire those shares.

What’s Happening: Longeveron continued to advance its cell-based therapy studies in a growing industry segment.

What Longeveron Does: Longeveron Inc is a biotechnology company developing cellular therapies for specific ageing-related and life-threatening conditions.

RENN Fund

The Trade: RENN Fund, Inc. RCG President and CEO Murray Stahl acquired a total of 1350 shares at an average price of $2.57. To acquire these shares, it cost $3,466.13.

What’s Happening: The company’s stock gained around 8% over the previous month.

What RENN Fund Does: RENN Fund Inc is active in the financial services domain. It is a closed-end management investment company formed with the objective of providing long-term capital appreciation by investing substantially in privately placed convertible and equity securities of emerging growth companies traded on the United States securities exchanges.