Nerdy And 3 Other Stocks Under $4 Insiders Are Aggressively Buying

The Dow Jones closed higher by around 90 points on Wednesday. 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.

Nerdy

• The Trade: Nerdy, Inc. NRDY CEO Charles Cohn acquired a total 27,600 shares an average price of $2.74. To acquire these shares, it cost around $75.62 thousand.
• What’s Happening: Nerdy posted a profit for the first quarter.
• What Nerdy Does: Nerdy Inc is a curated direct-to-consumer platform for live online learning.

LifeMD

• The Trade: LifeMD, Inc. LFMD Director Bertrand Velge acquired a total of 139,500 shares at an average price of $2.18. The insider spent around $303.88 thousand to buy those shares.
• What’s Happening: LifeMD reported first-quarter FY23 revenues of $33.12 million, beating the consensus of $30.80 million.
• What LifeMD Does: LifeMD Inc is a direct-to-patient telehealth company that provides a smarter, cost-effective, and more convenient way of accessing comprehensive, virtual healthcare.

HCW Biologics

• The Trade: HCW Biologics Inc. HCWB CFO Rebecca Byam acquired a total of 39,062 shares at an average price of $1.74. To acquire these shares, it cost around $68.12 thousand.
• What’s Happening: EF Hutton assumed HCW Biologics with a Buy rating and announced a price target of $9.
• What HCW Biologics Does: HCW Biologics Inc is a clinical-stage biopharmaceutical company focused on discovering and developing novel immunotherapies to lengthen the health span by disrupting the link between chronic, low-grade inflammation and age-related diseases.

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BARK

• The Trade: BARK, Inc. BARK CFO Zahir Ibrahim acquired a total of 100,000 shares at an average price of $1.08. The insider spent $107.84 thousand to buy those shares.
• What’s Happening: BARK posted upbeat quarterly sales results.
• What BARK Does: BARK Inc is a dog-centric company, devoted to making dogs happy with the products, services, and content.