Over $1.7M Bet On Globalstar? Check Out These 4 Penny Stocks Insiders Are Aggressively Buying

The Dow Jones index closed higher by around 47 points on Monday. 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.

FibroGen

• The Trade: FibroGen, Inc. FGEN CEO Thane Wettig acquired a total of 50,000 shares an average price of $1.91. To acquire these shares, it cost around $95,470.
• What’s Happening: On March 11, FibroGen named Deyaa Adib, M.D. as Chief Medical Officer.
• What FibroGen Does: FibroGen Inc is a biotechnology company focused on discovering, developing, and commercializing novel therapeutics to treat serious cancer biology and anemia.

RealReal

• The Trade: The RealReal, Inc. REAL Director Karen Katz acquired a total of 6,500 shares at at an average price of $3.85. To acquire these shares, it cost around $25,025.
• What’s Happening: On Feb. 29, RealReal reported better-than-expected fourth-quarter financial results and issued FY24 revenue guidance.
• What RealReal Does: The RealReal is the largest pure-play luxury resale platform in the US, generating $1.7 billion in 2023 gross merchandise volume and addressing a niche (personal luxury resale) that had previously been serviced by inefficient upscale boutiques and local pawn shops.

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Outlook Therapeutics

• The Trade: Outlook Therapeutics, Inc OTLK Chief Commercial Officer Jeff Evanson acquired a total of 62,484 shares at an average price of $0.42. The insider spent around $26,243 to buy those shares.
• What’s Happening: On Feb. 14, Outlook Therapeutics posted a narrower-than-expected quarterly loss.
• What Outlook Therapeutics Does: Outlook Therapeutics Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing ONS-5010, a monoclonal antibody, or mAb, for various ophthalmic indications.

Globalstar

• The Trade: Globalstar, Inc. GSAT Director James F Lynch acquired a total of 1,320,000 shares at an average price of $1.32. The insider spent around $1.75 million to buy those shares.
• What’s Happening: On Feb. 28, Globalstar reported worse-than-expected fourth-quarter sales results and issued FY24 total revenue guidance below estimates.
• What Globalstar Does: Globalstar Inc is a telecommunications company that derives revenue from the provision of mobile satellite services.

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