$1M Bet On This Penny Stock? Check Out These 4 Stocks Under $2 Insiders Are Aggressively Buying

The Dow Jones index closed higher by around 300 points 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.

Vaxart

• The Trade: Vaxart, Inc. VXRT Director W. Mark Watson bought a total of 20,000 shares at an average price of $0.68. To acquire these shares, it cost around $13,578.
• What's Happening: Vaxart announced Monday that proceeds from a recent offering combined with reimbursements under its Project NextGen award are expected to extend the company's cash runway into 2026.
• What Vaxart Does: Vaxart Inc is a clinical-stage biotechnology company. It focuses on the development of oral recombinant vaccines to protect against a wide range of infectious diseases.

Clover Health Investments

• The Trade: Clover Health Investments, Corp. CLOV Director Vivek Garipalli acquired a total of 877,567 shares at an average price of $1.14. To acquire these shares, it cost around $1 million.
• What's Happening: On May 7, Clover Health Investments reported better than expected first-quarter financial results.
• What Clover Health Investments Does: Clover Health Investments Corp is a healthcare technology company.

Check This Out: Top 4 Consumer Stocks that May Keep You Up At Night This Month

Alset

• The Trade: Alset Inc. AEI CEO Heng Fai Ambrose Chan acquired a total of 50,000 shares at an average price of $1.20. The insider spent around $60,000 to buy those shares.
• What's Happening: The company’s stock gained around 125% over the past month.
• What Alset Does: Alset Inc is a diversified holding company engaged through its subsidiaries in the development of EHome communities and other real estate, financial services, digital transformation technologies, biohealth activities, and consumer products with operations in the United States, Singapore, Hong Kong, Australia, and South Korea.

GlycoMimetics

• The Trade: GlycoMimetics, Inc. GLYC SVP Finance, CFO Brian M. Hahn acquired a total of 17,500 shares at an average price of $0.25. The insider spent around $4,335 to buy those shares.
• What's Happening: On June 4, GlycoMimetics announced results from its Phase 3 study of uproleselan in R/R AML demonstrating a clinically meaningful improvement in median overall survival..
• What GlycoMimetics Does: GlycoMimetics Inc is a clinical-stage biotechnology company.

Don’t forget to check out our premarket coverage here