$2.2 Million Bet On Terns Pharmaceuticals? Check Out These 4 Penny Stocks Insiders Are Buying

The Dow Jones closed higher by around 193 points on Thursday. Investors, meanwhile, focused on some notable insider trades.

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.3

loanDepot

• The Trade: loanDepot, Inc. (NYSE:LDI) Executive Chairman Anthony Li Hsieh bought a total of 27,132 shares at an average price of $1.60. To acquire these shares, it cost around $43.41 thousand.
• What’s Happening: loanDepot, last month, posted a Q2 loss of $0.66 per share.
• What loanDepot Does: loanDepot Inc provides nonbank consumer lending solutions for individuals in the United States. It offers personal, residential home, home refinancing, mortgage and home equity loans. It also provides online mortgage loans for refinancing and home purchases.

ALJ Regional Holdings

• The Trade: ALJ Regional Holdings, Inc. (NASDAQ:ALJJ) 10% owner William Montgomery acquired a total of 95,043 shares at an average price of $1.53. The insider spent around $145.8 thousand to buy those shares.
• What’s Happening: ALJ Regional Holdings recently announced it has submitted a formal notice to voluntarily delist its stock from the Nasdaq Stock Market.
• What ALJ Regional Holdings Does: ALJ Regional Holdings Inc is a holding company that operates through its subsidiaries Faneuil and Phoenix. Faneuil, which is the key revenue driver, provides call center services and back-office operations, staffing services, and toll collection services.

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CASI Pharmaceuticals

• The Trade: CASI Pharmaceuticals, Inc. (NASDAQ:CASI) Director James Huang acquired a total of 55,573 shares at an average price of $4.13. To acquire these shares, it cost around $229.66 thousand.
• What’s Happening: CASI Pharmaceuticals and BioInvent recently announced dosing of first patient in BI-1206 Phase 1 clinical trial for the treatment of relapsed/refractory non-Hodgkin's lymphoma in China.
• What CASI Pharmaceuticals Does: CASI Pharmaceuticals Inc is a biopharmaceutical company that focuses on commercializing innovative therapeutics and pharmaceutical products.

Terns Pharmaceuticals

• The Trade: Terns Pharmaceuticals, Inc. (NASDAQ:TERN) 10% owner Vivo Capital Surplus Fund VIII, L.P. acquired a total of 600,000 shares at an average price of $3.60. The insider spent $2.16 million to buy those shares.
• What’s Happening: Terns Pharmaceuticals, last month, announced a $65 million oversubscribed offering.
• What Terns Pharmaceuticals Does: Terns Pharmaceuticals Inc is a clinical-stage biopharmaceutical company. It is developing a portfolio of small-molecule single-agent and combination therapy candidates for the treatment of non-alcoholic steatohepatitis, or NASH, and other chronic liver diseases.