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
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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
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