ESSA Pharma And 2 Other Penny Stocks Insiders Are Aggressively Buying

Tesla Inc TSLA posted better-than-expected earnings for its second quarter, while sales missed estimates. Investors, meanwhile, focused on some notable insider trades.

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.3

Great Elm Group

• The Trade: Great Elm Group, Inc. GEG 10% owner Long Ball Partners LLC acquired a total of 6,951 shares at an average price of $1.99. To acquire these shares, it cost around $13.84 thousand.
• What’s Happening: Great Elm Group, last month, priced public offering of $25,000,000 of 7.25% notes due 2027.
• What Great Elm Group Does: Great Elm Group Inc formerly, Great Elm Capital Group Inc operates as a holding company.

Helbiz

• The Trade: Helbiz, Inc. HLBZ CEO Salvatore Palella acquired a total of 327,425 shares at an average price of $0.62. The insider spent around $203.99 thousand to buy those shares.
• What’s Happening: Helbiz recently released the HelmetChecker, a real-time AI helmet verification, for sale to micro-mobility operators.
• What Helbiz Does: Helbiz Inc provides electric micro-mobility services. The company offers a diverse fleet of vehicles including e-scooters, e-bicycles and e-mopeds all on one convenient, user-friendly platform around the world.

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ESSA Pharma

• The Trade: ESSA Pharma Inc. EPIX 10% owner BB Biotech AG acquired a total of 300,000 shares at an average price of $3.16. To acquire these shares, it cost around $946.74 thousand.
• What’s Happening: ESSA Pharma, last month, presented clinical results from the Phase 1a dose-escalation study of EPI-7386 as a monotherapy for metastatic castration-resistant prostate cancer (mCRPC) resistant to current standard-of-care therapies.
• What ESSA Pharma Does: ESSA Pharma Inc is a pharmaceutical company. The company is in the preclinical stage, focused on the development of small molecule drugs for the treatment of castration-resistant prostate cancer.