Skye Bioscience And 2 Other Penny Stocks Insiders Are Buying
Portfolio Pulse from Avi Kapoor
Insiders at Skye Bioscience, New Peoples Bankshares, and Vivani Medical have recently made significant stock purchases. Skye Bioscience saw a 10% owner acquire over 5 million shares, with an analyst initiating coverage with an Overweight rating and a $12 price target. New Peoples Bankshares director bought nearly 90,000 shares as the stock gained 11% over six months. Vivani Medical's director purchased 100 shares amid a report of a wider-than-expected quarterly loss.
February 05, 2024 | 2:30 pm
News sentiment analysis
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NEUTRAL IMPACT
Vivani Medical's director acquired 100 shares amid a report of a wider-than-expected quarterly loss.
The small scale of the insider purchase at Vivani Medical, despite the recent negative earnings report, suggests a neutral short-term impact on the stock price, as the market may have already priced in the earnings news.
CONFIDENCE 65
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
New Peoples Bankshares director purchased nearly 90,000 shares as the company's stock gained 11% over the past six months.
The insider purchase at New Peoples Bankshares, coupled with the stock's recent performance, could indicate a bullish outlook from insiders, potentially influencing short-term investor sentiment positively.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Skye Bioscience saw a significant insider purchase by a 10% owner and received an Overweight rating with a $12 price target from Piper Sandler.
The insider purchase combined with the positive analyst coverage could signal strong confidence in Skye Bioscience's prospects, potentially leading to short-term price appreciation.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90