5 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.

Outlook Therapeutics

• The Trade: Outlook Therapeutics, Inc. OTLK Director GMS Ventures & Investments acquired a total of 16000000 shares at an average price of $1.25. To acquire these shares, it cost $20,000,000.00.
• What’s Happening: The company recently announced a $10 million bought deal offering of common stock which was afterwards increased to $50 million.
• What Outlook Therapeutics Does: Outlook Therapeutics is a clinical-stage biopharmaceutical company focused on developing and commercializing ONS-5010, a monoclonal antibody, or mAb, for various ophthalmic indications.

Destiny Media Technologies

• The Trade: Destiny Media Technologies Inc. DSNY 10% owner Mark A Graber acquired a total of 65042 shares at an average price of $1.15. The insider spent $74,473.09 to buy those shares.
• What’s Happening: The company’s shares have jumped over 55% since the start of the year.
• What Destiny Media Technologies Does: Destiny Media Technologies Inc is a provider of secure digital content distribution solutions. The company operates solely in the digital media software segment.

ARC Document Solutions

• The Trade: ARC Document Solutions, Inc. ARC Chairman, President and CEO Kumarakulasingam Suriyakumar acquired a total of 57479 shares at an average price of $2.92. To acquire these shares, it cost $168,004.33.
• What’s Happening: ARC, last month, reported continuing strength in Q3 sales, EPS and EBITDA.
• What ARC Document Solutions Does: ARC Document Solutions Inc is a global document solutions provider. The company's service offerings include managed print services (MPS), offsite services, archive and information management ( AIM), specialized color printing, Web-based document management applications, and equipment and supplies sales.

MultiPlan

• The Trade: MultiPlan Corporation MPLN Executive Vice President and Chief Financial Officer James Head acquired a total of 300000 shares at an average price of $4.34. The insider spent $1,302,000.00 to buy those shares.
• What’s Happening: MultiPlan, last month, named Jim Head as new CFO.
• What MultiPlan Does: MultiPlan Corp is committed to helping healthcare payors manage the cost of care, improve their competitiveness, and inspire positive change.

Cyanotech

• The Trade: Cyanotech Corporation CYAN Director Michael Davis acquired a total of 36000 shares shares at an average price of $3.51. The insider spent $126,194.40 to buy those shares.
• What’s Happening: The company, last month, reported a rise in quarterly earnings.
• What Cyanotech Does: Cyanotech Corp is engaged in the production of natural products derived from microalgae for the nutritional supplements market.