First Foundation And 2 Other Penny Stocks Insiders Are Aggressively Buying

The Dow Jones closed lower on Thursday. 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.

SoFi Technologies

• The Trade: SoFi Technologies, Inc. SOFI CEO Anthony Noto acquired a total 50,000 shares an average price of $4.73. To acquire these shares, it cost around $236.71 thousand.
• What’s Happening: SoFi Technologies reported a Q1 2023 adjusted revenue increase of 43% Y/Y to $460.2 million, beating the consensus of $441.0 million.
• What SoFi Technologies Does: SoFi is a financial services company that was founded in 2011 and is currently based in San Francisco.

First Foundation

• The Trade: First Foundation Inc. FFWM Director Jacob Sonenshine acquired a total of 8,000 shares at an average price of $4.08. The insider spent around $32.65 thousand to buy those shares. The company’s other Director also purchased the company’s shares.
• What’s Happening: First Foundation posted weaker-than-expected quarterly sales.
• What First Foundation Does: First Foundation Inc is a financial services company. It is engaged in providing investment management and financial planning services for high net-worth individuals, retirement plans, charitable institutions, and private foundations.

MiNK Therapeutics

• The Trade: MiNK Therapeutics, Inc. INKT Director Garo H Armen acquired a total of 100,000 shares at an average price of $0.95. To acquire these shares, it cost around $94.85 thousand.
• What’s Happening: MiNK Therapeutics posted a wider-than-expected quarterly loss.
• What MiNK Therapeutics Does: MiNK Therapeutics Inc is a clinical-stage biopharmaceutical company focused on developing allogeneic invariant natural killer T cell therapies to treat cancer and other life-threatening illnesses.

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