More Than $3M Bet On Nogin? Check Out These 3 Penny Stocks Insiders Are Aggressively Buying

The Dow Jones closed higher by over 100 points on Monday. 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.

Nogin

• The Trade: Nogin, Inc. NOGN CEO and President Jonathan Huberman acquired a total 1,011,828 shares an average price of $3.00. To acquire these shares, it cost around $3.04 million. The company’s CFO, Director and Chief Technology Officer also bought the company’s shares.
• What’s Happening: Nogin recently announced pricing of a $22 million public offering.
• What Nogin Does: Nogin Inc is a software company that delivers commerce as a service to brands in the fashion, CPG, beauty, health, and wellness industries.

GT Biopharma

• The Trade: GT Biopharma, Inc. GTBP CFO and Secretary Manu Ohri acquired a total of 50,000 shares at an average price of $0.50. The insider spent around $25 thousand to buy those shares.
• What’s Happening: GT Biopharma posted a FY22 loss of $0.66 per share.
• What GT Biopharma Does: GT Biopharma Inc is a clinical-stage biopharmaceutical company focused on the development and commercialization of novel immuno-oncology products in the United States.

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Heliogen

• The Trade: Heliogen, Inc. HLGN 10% owner Patrick Soonshiong acquired a total of 1,026,051 shares at an average price of $0.25. To acquire these shares, it cost around $253.28 thousand.
• What’s Happening: Heliogen posted a wider-than-expected quarterly loss.
• What Heliogen Does: Heliogen Inc is a concentrated solar energy system that is being developed to unlock the power of sunlight to replace fossil fuels.

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