$1.5M Bet On This Healthcare Stock? Check Out These 3 Penny Stocks Insiders Are Aggressively Buying

The Dow Jones closed higher on Monday after recording losses last week. 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.

OmniAb

• The Trade: OmniAb, Inc. OABI CEO Matthew W Foehr acquired a total 440,000 shares shares an average price of $3.40. To acquire these shares, it cost around $1.5 million.
• What’s Happening: OmniAb posted a narrower loss for the first quarter.
• What OmniAb Does: OmniAb Inc offers therapeutic antibody discovery technologies. Its focus is to enable the rapid development of therapeutics by pushing the frontiers of drug discovery technologies.

Citizens

• The Trade: Citizens, Inc. CIA President and CEO Gerald Shields acquired a total of 56,672.9313 shares at an average price of $1.87. The insider spent around $106.24 thousand to buy those shares.
• What’s Happening: Citizens posted a profit for the first quarter.
• What Citizens Does: Citizens Inc is an insurance holding company serving the life insurance needs of individuals in the United States.

Sonnet BioTherapeutics

• The Trade: Sonnet BioTherapeutics Holdings, Inc. SONN Chairman, President and CEO Pankaj Mohan acquired a total of 371,600 shares at an average price of $0.22. To acquire these shares, it cost around $82.87 thousand.
• What’s Happening: Sonnet BioTherapeutics posted a second-quarter loss of 34 cents per share.
• What Sonnet BioTherapeutics Does: Sonnet BioTherapeutics Holdings Inc is a clinical-stage biopharmaceutical company.

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