3 Penny Stocks Insiders Are Buying

When insiders purchase or sell shares, it indicates their confidence or concern around the company's prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.

Below is a look at a few recent notable insider transactions for penny stocks. For more, check out Benzinga's insider transactions platform.

Tracon Pharmaceuticals

The Trade: Tracon Pharmaceuticals, Inc. (NASDAQ: TCON) Director William Larue acquired a total of 6545 shares shares at an average price of $3.82. The insider spent $25,001.90 to buy those shares.

What’s Happening: TRACON Pharmaceuticals recently announced it increased a previously announced bought deal offering of common stock to $15 million.

What Tracon Pharmaceuticals Does: TRACON Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel targeted therapeutics for cancer.

Anixa Biosciences

The Trade: Anixa Biosciences Inc (NASDAQ: ANIX) Director Arnold M Baskies acquired a total of 19000 shares shares at an average price of $4.33. The insider spent $82,270.00 to buy those shares.

What’s Happening: Anixa Biosciences shares have jumped around 15% over the past month.

What Anixa Biosciences Does: Anixa Biosciences Inc, a cancer-focused biotechnology company, is engaged in harnessing the body's immune system in the fight against cancer.

Ault Global

The Trade: Ault Global Holdings, Inc. (NYSE: DPW) Executive Chairman Milton C. Ault III acquired a total of 10000 shares shares at an average price of $2.32. The insider spent $23,198.00 to buy those shares.

What’s Happening: DPW recently reported adjournment of annual shareholder meeting due to lack of quorum.

What Ault Global Does: Ault Global Holdings is a diversified holding company owning subsidiaries engaged in commercial and defense solutions, commercial lending and advanced textile technology.