$1.5M Bet On This Healthcare Stock? Check Out These 4 Penny Stocks Insiders Are Aggressively Buying

The Dow Jones index closed lower by around 20 points on Friday. 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.

Retractable Technologies

• The Trade: Retractable Technologies, Inc. RVP President and CEO Thomas J Shaw acquired a total of 3,455 shares an average price of $1.07. To acquire these shares, it cost around $3,703.
• What’s Happening: On Nov. 14, Retractable Technologies reported that its loss from operations was $8.7 million for the first nine months of 2023.
• What Retractable Technologies Does: Retractable Technologies Inc designs, develops, manufactures, and markets safety syringes and other safety medical products for the healthcare profession.

Athira Pharma

• The Trade: Athira Pharma, Inc. ATHA Director Joseph Edelman acquired a total of 605,686 shares at an average price of $2.42. To acquire these shares, it cost around $1.46 million.
• What’s Happening: Athira Pharma, last month, announced results from SHAPE Phase 2 clinical trial of fosgonimeton for the treatment of Parkinson's disease dementia and dementia with Lewy Bodies.
• What Athira Pharma Does: Athira Pharma Inc is a late clinical-stage biopharmaceutical company focused on developing small molecules engineered to restore neuronal health and slow neurodegeneration.

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Globalstar

• The Trade: Globalstar, Inc. GSAT Director James F Lynch acquired a total of 500,000 shares at an average price of $1.73. The insider spent around 863,800 to buy those shares.
• What’s Happening: On Nov. 2, Globalstar reported third-quarter FY23 sales growth of 53% year-on-year to $57.7 million.
• What Globalstar Does: Globalstar Inc is a telecommunications company that derives revenue from the provision of mobile satellite services.

Collective Audience

• The Trade: Collective Audience, Inc. CAUD Director Nadine Watt acquired a total of 10,000 shares at an average price of $1.50. The insider spent around $14,988 to buy those shares.
• What’s Happening: Collective Audience, last month, appointed Peter Bordes, as Chief Executive Officer.
• What Collective Audience Does: Collective Audience Inc is a provider of e-commerce and digital customer acquisition solutions by simplifying digital advertising.

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