2 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.

Petros Pharmaceuticals

The Trade: Petros Pharmaceuticals, Inc. PTPI Director John Shulman acquired a total of 1661807 shares at an average price of $1.72. The insider spent $2,849,999.01 to acquire those shares.

What’s Happening: Petros Pharmaceuticals recently reported a $5.7 million registered direct offering.

What Petros Pharmaceuticals Does: Petros Pharmaceuticals is a men's health pharmaceutical company. It focuses on identifying, developing, acquiring, and commercializing innovative therapeutics for men's health issues including erectile dysfunction, peyronie's disease, hormone health and substance use disorders.

Caribou Biosciences

The Trade: Caribou Biosciences, Inc. CRBU Chief Legal Officer Barbara McClung acquired a total of 9219 shares shares at an average price of $2.69. The insider spent $24,799.11 to buy those shares.

What’s Happening: Caribou Biosciences will present at Jefferies Summit on Wednesday, Oct. 27 at 1 p.m. EDT.

What Caribou Biosciences Does: Caribou Biosciences Inc is a clinical-stage biopharmaceutical company dedicated to transforming the lives of patients with devastating diseases by applying its novel CRISPR platform, CRISPR hybrid RNA-DNA (chRDNA), toward the development of next-generation, genome-edited cell therapies.