Over $72M Bet On This Biotechnology Stock? Check Out These 4 Penny Stocks Insiders Are Aggressively Buying
Portfolio Pulse from Lisa Levin
Insiders have been aggressively buying shares in Lexicon Pharmaceuticals, Heliogen, ImmunityBio, and Nanophase Technologies. This indicates their confidence in the companies' prospects and can be considered a factor for investors and traders interested in penny stocks.
June 06, 2023 | 1:22 pm
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POSITIVE IMPACT
Heliogen's 10% owner Patrick Soonshiong acquired 180,012 shares at an average price of $0.25, spending around $44.16 thousand.
The insider purchase by Patrick Soonshiong indicates confidence in Heliogen's prospects, especially after posting a narrower-than-expected quarterly loss. This could attract more investors and lead to a short-term increase in the stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
ImmunityBio's Director Michael Blaszyk acquired 71,915 shares at an average price of $2.75, costing around $198.02 thousand.
The acquisition of shares by ImmunityBio's Director Michael Blaszyk and other Directors indicates their confidence in the company's prospects. This could lead to increased investor interest and a potential short-term increase in the stock price.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Invus Advisors acquired 27,775,050 shares of Lexicon Pharmaceuticals at an average price of $2.60, costing around $72.22 million.
The acquisition of a significant number of shares by Invus Advisors indicates their confidence in Lexicon Pharmaceuticals' prospects. This could lead to increased investor interest and a potential short-term increase in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Nanophase Technologies' COO Kevin Cureton acquired 50,000 shares at an average price of $1.11, spending $55.39 thousand.
The insider purchase by Nanophase Technologies' COO Kevin Cureton indicates confidence in the company's prospects, especially after reporting a 16% YoY increase in Q1 revenue. This could lead to increased investor interest and a short-term increase in the stock price.
CONFIDENCE 80
IMPORTANCE 65
RELEVANCE 100