Insider Transactions in Penny Stocks: Porch Group, Vivani Medical, and BioRestorative Therapies
The Dow Jones index closed lower by more than 50 points on Friday, indicating some concerns around the market. However, when insiders purchase or sell shares, it can provide valuable insights into a company’s prospects. For investors and traders interested in penny stocks, these insider transactions can be a factor to consider in their overall investment or trading decision.
Let’s take a look at some recent notable insider transactions in penny stocks:
1. Porch Group (PRCH):
– The Trade: Porch Group, Inc. Director Camilla Velasquez acquired a total of 1,976 shares at an average price of $2.53. The total cost of acquiring these shares was around $4,999.
– What’s Happening: Porch Group signed a strategic business collaboration agreement with Aon, resulting in the company receiving approximately $25 million upfront.
– What Porch Group Does: Porch Group Inc is a vertical software company that reinvents the home services and insurance industries. It provides software and services to home services companies.
2. Vivani Medical (VANI):
– The Trade: Vivani Medical, Inc. Director Gregg Williams acquired a total of 2,190 shares at an average price of $1.01. The total cost of acquiring these shares was around $2,212.
– What’s Happening: Vivani Medical posted a wider-than-expected quarterly loss in November.
– What Vivani Medical Does: Vivani Medical Inc is a preclinical stage biopharmaceutical company. It develops miniaturized, subdermal implants utilizing its proprietary NanoPortal technology to enable long-term, near constant-rate delivery of a broad range of medicines to treat chronic diseases.
3. BioRestorative Therapies (BRTX):
– The Trade: BioRestorative Therapies, Inc. 10% owner Dale Broadrick acquired a total of 120,000 shares at an average price of $1.35. The insider spent around $162,255 to buy those shares.
– What’s Happening: BioRestorative Therapies announced the exercise of warrants and the issuance of new warrants in a private placement for $8.1 million in gross proceeds priced at-the-market.
– What BioRestorative Therapies Does: BioRestorative Therapies Inc is a biotechnology company that focuses on the development of regenerative medicine products and therapies using cell and tissue protocols, primarily involving adult (non-embryonic) stem cells.
These insider transactions provide a glimpse into the confidence or concern insiders have about their respective companies’ prospects. Investors and traders can consider these transactions as part of their due diligence when evaluating penny stocks.
Remember, it’s always important to conduct thorough research and consider multiple factors before making any investment or trading decisions.
