Insiders Buying These 4 Penny Stocks

US crude oil futures surged to their strongest levels since 2008 early this morning, amid the risk of Western ban on Russia’s oil imports. Investors, meanwhile, focused on some notable insider trades

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.

Humanigen

• The Trade: Humanigen, Inc. HGEN CEO Cameron Durrant acquired a total of 40,000 shares at an average price of $2.34. To acquire these shares, it cost $93.6 thousand.
• What’s Happening: Humanigen recently reported a FY21 net loss of $4.04 per share.
• What Humanigen Does: Humanigen Inc is a biopharmaceutical company engaged in the development of proprietary monoclonal antibodies for various oncology indications and to enhance T-cell therapies, making these treatments safer and cost-effective.

9 Meters Biopharma

• The Trade: 9 Meters Biopharma, Inc. NMTR CEO John Temperato acquired a total of 100,000 shares at an average price of $0.56. The insider spent around $55.59 thousand to buy those shares.
• What’s Happening: 9 Meters Biopharma recently reported a collaboration with NYU Langone Health investigating NM-102 as a potential treatment for an autoimmune disorder.
• What 9 Meters Biopharma Does: 9 Meters Biopharma Inc is a clinical-stage biopharmaceutical company focused on rare and unmet needs in gastroenterology.

Also check this: Insiders Buy Around $2.8M Of 3 Stocks

Lordstown Motors

• The Trade: Lordstown Motors Corp. RIDE CEO Daniel Ninivaggi acquired a total of 20,000 shares at an average price of $2.43. To acquire these shares, it cost around $48.59 thousand.
• What’s Happening: Lordstown Motors recently reported Q4 earnings results and said it expects commercial production and sales of the Endurance of approximately 500 units in 2022 growing to as many as 2,500 units in 2023.
• What Lordstown Motors Does: Lordstown Motors, founded in 2019, develops, manufactures, and sells Endurance, an electric full-size pickup truck for fleet customers.

Clover Health Investments

• The Trade: Clover Health Investments, Corp. CLOV Director Chelsea Clinton acquired a total of 100,000 shares at an average price of $2.53. The insider spent $252.53 thousand to buy those shares.
• What’s Happening: Clover Health Investments recently reported better-than-expected Q4 sales results and issued FY22 sales guidance above estimates.
• What Clover Health Investments Does: Clover Health Investments Corp is a healthcare technology company. It uses its proprietary technology platform to collect, structure, and analyze health and behavioral data to improve medical outcomes and lower costs for patients.