3 Stocks Under $3 Insiders Are Aggressively Buying

US crude oil futures traded lower on Monday. 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.

Rubius Therapeutics

• The Trade: Rubius Therapeutics, Inc. RUBY Director David Epstein acquired a total of 30,000 shares at an average price of $1.44. To acquire these shares, it cost $43.33 thousand.
• What’s Happening: Rubius Therapeutics recently announced updated data from the ongoing monotherapy Phase 1 arm of the Phase 1/2 trial of RTX-240 in advanced solid tumors.
• What Rubius Therapeutics Does: Rubius Therapeutics Inc develops red cell therapeutics (RCTs) for the treatment of patients with rare diseases, cancer, and autoimmune diseases.

Adverum Biotechnologies

• The Trade: Adverum Biotechnologies, Inc. ADVM CEO, President and Director Laurent Fischer acquired a total of 25,000 shares at an average price of $1.11. The insider spent around $27.8 thousand to buy those shares.
• What’s Happening: Adverum Biotechnologies recently received feedback via a Type C meeting written response from the FDA regarding its planned Phase 2 trial of ADVM-022 in wet age-related macular degeneration (wet AMD).
• What Adverum Biotechnologies Does: Adverum Biotechnologies Inc is a US-based clinical-stage gene therapy company.

Also check this: Insiders Buy More Than $15M Of 3 Stocks

Don’t forget to check out our premarket coverage here .

Anixa Biosciences

• The Trade: Anixa Biosciences, Inc. ANIX President Michael Catelani acquired a total of 5,500 shares at an average price of $2.66. To acquire these shares, it cost around $14.63 thousand.
• What’s Happening: Anixa Biosciences, last month, announced the initiation of its ovarian cancer CAR-T Phase 1 trial at Moffitt Cancer Center.
• What Anixa Biosciences Does: Anixa Biosciences Inc, a cancer-focused biotechnology company, is engaged in harnessing the body's immune system in the fight against cancer.