Lexicon Pharmaceuticals And 2 Other Stocks Under $5 Insiders Are Aggressively Buying

The Dow Jones closed lower by over 200 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.

Lexicon Pharmaceuticals

• The Trade: Lexicon Pharmaceuticals, Inc. LXRX President and CFO Jeffrey L Wade acquired a total 12,000 shares an average price of $2.33. To acquire these shares, it cost around $28 thousand.
• What’s Happening: Lexicon Pharmaceuticals announced pricing of a $125 million public offering and concurrent private placement.
• What Lexicon Pharmaceuticals Does: Lexicon Pharmaceuticals Inc is a biopharmaceutical company.

Avalo Therapeutics

• The Trade: Avalo Therapeutics, Inc. AVTX 10% owner Caissa Capital Management Ltd acquired a total of 8,160 shares at an average price of $3.88. The insider spent around $31.64 thousand to buy those shares.
• What’s Happening: Avalo Therapeutics posted a narrower-than-expected quarterly loss.
• 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.

PEDEVCO

• The Trade: PEDEVCO Corp. PED 10% owner SGK 2018 REVOCABLE TRUST acquired a total of 130,453 shares at an average price of $0.89. To acquire these shares, it cost around $116.59 thousand.
• What’s Happening: PEDEVCO announced expansion into Wyoming D-J Basin Codell Play.
• What PEDEVCO Does: PEDEVCO Corp is an oil and gas company focused on the acquisition and development of oil and natural gas assets where the latest in modern drilling and completion techniques and technologies have yet to be applied.

Check This Out: Investor Sentiment Declines Further After Dow Dips Over 200 Points

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