$1M Bet On This Penny Stock? Check Out These 4 Stocks Under $2 Insiders Are Aggressively Buying
Portfolio Pulse from Avi Kapoor
Insiders are aggressively buying shares of four penny stocks: Vaxart, Clover Health Investments, Alset, and GlycoMimetics. These transactions indicate confidence in the companies' prospects. Notable insider purchases include Vaxart's director buying 20,000 shares, Clover Health's director acquiring 877,567 shares, Alset's CEO buying 50,000 shares, and GlycoMimetics' CFO purchasing 17,500 shares.
June 21, 2024 | 12:22 pm
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POSITIVE IMPACT
Alset's CEO bought 50,000 shares at $1.20 each, indicating confidence in the company's future. The stock has gained around 125% over the past month.
The insider purchase and significant recent stock price increase suggest positive momentum for Alset, likely leading to further short-term gains.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Clover Health's director acquired 877,567 shares at $1.14 each, reflecting strong confidence in the company's prospects. The company recently reported better-than-expected Q1 financial results.
The large insider purchase and better-than-expected Q1 results are strong positive indicators, likely leading to a short-term increase in Clover Health's stock price.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
GlycoMimetics' CFO acquired 17,500 shares at $0.25 each, showing confidence in the company's future. The company announced positive Phase 3 study results for uproleselan in R/R AML.
The insider purchase and positive Phase 3 study results are strong positive signals, likely leading to a short-term increase in GlycoMimetics' stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 85
POSITIVE IMPACT
Vaxart's director purchased 20,000 shares at $0.68 each, indicating confidence in the company's future. Vaxart expects its cash runway to extend into 2026 due to recent funding and reimbursements.
The insider purchase and the extension of the cash runway into 2026 are positive signals for Vaxart, likely boosting investor confidence and short-term stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80