5.6 Million Bet On This Penny Stock? Check Out These 3 Penny Stocks Insiders Are Buying

The Nasdaq Composite closed lower by around 100 points on Tuesday. 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.3

Mobivity Holdings

• The Trade: Mobivity Holdings Corp. MFON 10% owner Talkot Capital LLC bought a total of 5,501,916 shares at an average price of $1.02. To acquire these shares, it cost around $5.59 million.
• What’s Happening: The company is scheduled to report Q3 earnings on November 14, 2022.
• What Mobivity Holdings Does: Mobivity Holdings Corp develops and operates proprietary platforms over which enterprises conduct data-driven mobile marketing campaigns.

Jupiter Wellness

• The Trade: Jupiter Wellness, Inc. JUPW Director Skender Fani acquired a total of 122,000 shares at an average price of $0.86. The insider spent around $105.16 thousand to buy those shares.
• What’s Happening: Jupiter Wellness recently initiated clinical trial for potential new treatment for Tinnitus.
• What Jupiter Wellness Does: Jupiter Wellness Inc is a diversified company supporting health and wellness through the research and development of over-the-counter (OTC) products and intellectual property.

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Alzamend Neuro

• The Trade: Alzamend Neuro, Inc. ALZN 10% owner Milton C. Ault III acquired a total of 6,000 shares at an average price of $1.19. To acquire these shares, it cost around $7.14 thousand.
• What’s Happening: Alzamend Neuro, last month, said it has dosed its first healthy adult subject in its Phase 2A multiple ascending dose (MAD) study of AL001 in subjects with dementia related to Alzheimer's.
• What Alzamend Neuro Does: Alzamend Neuro Inc is an early clinical-stage biopharmaceutical company.