$4M Bet On Jasper Therapeutics? Check Out These 3 Penny Stocks Insiders Are Aggressively Buying

The Dow Jones closed higher by around 100 points on Tuesday. 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.

Jasper Therapeutics

• The Trade: Jasper Therapeutics, Inc. JSPR 10% owner Gary Rieschel acquired a total 2,666,666 shares an average price of $1.50. To acquire these shares, it cost around $4 million.
• What’s Happening: Jasper Therapeutics recently posted in-line loss for its fourth quarter.
• What Jasper Therapeutics Does: Jasper Therapeutics Inc is a clinical-stage biotechnology company dedicated to enabling cures through hematopoietic stem cell therapy.

Erasca

• The Trade: Erasca, Inc. ERAS Director Alexander Casdin acquired a total of 20,000 shares at an average price of $2.76. The insider spent around $55.23 thousand to buy those shares.
• What’s Happening: Mizuho recently initiated coverage on Erasca with a Buy rating and announced a price target of $9.
• What Erasca Does: Erasca Inc is a clinical-stage precision oncology company singularly focused on discovering, developing, and commercializing therapies for patients with RAS/MAPK pathway-driven cancers.

Check This Out: Wall Street's Most Accurate Analysts Say Buy These 3 Financial Stocks With Over 6% Dividend Yields

Avalo Therapeutics

• The Trade: Avalo Therapeutics, Inc. AVTX 10% owner Caissa Capital Management Ltd acquired a total of 56,329 shares at an average price of $2.53. To acquire these shares, it cost around $142.52 thousand.
• What’s Happening: Avalo Therapeutics reported a 2022 loss per share of $4.43.
• What Avalo Therapeutics Does: Avalo Therapeutics Inc is a clinical-stage precision medicine company that discovers, develops, and commercializes targeted therapeutics for patients with significant unmet clinical needs in immunology, immuno-oncology, and rare genetic diseases.

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