2 Stocks Under $3 Insiders Are Aggressively Buying

US crude oil futures traded higher on Friday. 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.

Passage Bio

• The Trade: Passage Bio, Inc. PASG 10% owner OrbiMed Capital GP VII LLC acquired a total of 525,000 shares at an average price of $1.94. To acquire these shares, it cost $1.02 million.
• What’s Happening: The company’s stock has dipped 65% since the start of the year.
• What Passage Bio Does: Passage Bio Inc is a genetic medicines company. The company is focused on developing transformative therapies for rare, monogenic CNS disorders.

Aware

• The Trade: Aware, Inc. AWRE CEO and President Robert A Eckel acquired a total of 10,000 shares at an average price of $2.83. The insider spent around $28.3 thousand to buy those shares.
• What’s Happening: The company recently posted upbeat quarterly results.
• What Aware Does: Aware Inc is a provider of software and services to the biometrics industry. The company's software products are used in government and commercial biometrics systems to identify or authenticate people.

Also check this: Executives Buy More Than $90M Of 4 Stocks