Passage Bio And 2 Other Penny Stocks Insiders Are Aggressively Buying
Portfolio Pulse from Lisa Levin
Insiders at Passage Bio, Inc. (NASDAQ:PASG), TerrAscend Corp. (OTC:TRSSF), and VerifyMe, Inc. (NASDAQ:VRME) have recently made significant share purchases. Passage Bio's 10% owner OrbiMed Capital GP VII LLC acquired over 1.1 million shares, despite the company posting a wider-than-expected quarterly loss. TerrAscend's Director Jason Wild bought 800,002 shares following the company's acquisition of Derby 1, LLC. VerifyMe's CEO Adam Stedham purchased 10,000 shares after the company reported mixed first-quarter financial results.
June 30, 2023 | 11:46 am
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OrbiMed Capital GP VII LLC, a 10% owner of Passage Bio, purchased over 1.1 million shares. This occurred despite the company posting a wider-than-expected quarterly loss.
Insider buying is often seen as a positive sign, as it suggests that those with the most knowledge about the company believe its stock is undervalued. Despite the recent wider-than-expected loss, the significant purchase by a 10% owner could indicate confidence in the company's future prospects.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Jason Wild, a director at TerrAscend Corp., purchased 800,002 shares following the company's acquisition of Derby 1, LLC.
The significant share purchase by a director following the company's acquisition could indicate confidence in the potential for future growth and profitability. This could be a positive sign for investors.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Adam Stedham, the CEO of VerifyMe, purchased 10,000 shares after the company reported mixed first-quarter financial results.
The CEO's purchase of shares following mixed financial results could indicate a belief in the company's potential. This could be seen as a positive sign by investors.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100