$3M Bet On This Biotechnology Stock? Check Out These 3 Penny Stocks Insiders Are Buying

The Dow Jones closed lower by over 100 points on Friday. 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.

GlycoMimetics

• The Trade: GlycoMimetics Inc GLYC 10% owner Invus Public Equities Advisors, LLC bought a total of 1,515,266 shares at an average price of $2.00. To acquire these shares, it cost around $3.03 million.
• What’s Happening: GlycoMimetics announced continuation of Phase 3 study of e-selectin antagonist uproleselan in relapsed/refractory AML to originally planned final analysis following interim analysis by Independent Data Monitoring Committee.
• What GlycoMimetics Does: GlycoMimetics Inc is a clinical stage biotechnology company.

Superior Drilling Products

• The Trade: Superior Drilling Products Inc SDPI 10% owner Star Equity Holdings Inc acquired a total 116,773 shares at an average price of $0.97. The insider spent around $113.59 thousand to buy those shares.
• What’s Happening: Movano Health recently priced its $6.5 million public offering of 4,644,000 shares at a price of $1.57 per share.
• What Superior Drilling Products Does: Superior Drilling sees FY22 revenue of $19 million-$19.2 million.

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Energy Services Of America

• The Trade: Energy Services Of America Corp ESOA Director Mark Prince acquired a total of 10,000 shares at an average price of $2.67. To acquire these shares, it cost around $26.7 thousand.
• What’s Happening: Energy Servs of America posted Q1 earnings of $0.01 per share.
• What Energy Services Of America Does: Energy Services of America Corporation is engaged in providing contracting services for energy-related companies.

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