4 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.

Streamline Health Solutions

• The Trade: Streamline Health Solutions, Inc. (NASDAQ:STRM) Director Kenan Lucas acquired a total of 100000 shares at an average price of $1.50. To acquire these shares, it cost $150,000.00.
• What’s Happening: The company recently posted a narrower-than-expected quarterly loss.
• What Streamline Health Solutions Does: Streamline Health Solutions Inc is a provider of transformational data-driven solutions for healthcare organizations. The company provides computer software-based solutions through its looking glass platform. Its solutions include coding and CDI, coding audit, and financial management solutions.

Immix Biopharma

• The Trade: Immix Biopharma, Inc. (NASDAQ:IMMX) Director Jason Hsu acquired a total of 3965913 shares at an average price of $0.90. The insider spent $3,578,526.05 to buy those shares.
• What’s Happening: The company recently priced its IPO at $5 per share.
• What Immix Biopharma Does: Immix Biopharma Inc is a clinical-stage biopharmaceutical company developing Tissue-Specific Therapeutics in oncology and inflammation. Its product candidate drug candidates to circulate in the bloodstream, exit through tumor blood vessels and simultaneously attack all components of the TME.

Evofem Biosciences

• The Trade: Evofem Biosciences, Inc. (NASDAQ:EVFM) CFO Justin J File acquired a total of 40594 shares at an average price of $0.37. To acquire these shares, it cost $15,019.78.
• What’s Happening: Evofem Biosciences recently collaborated with Orion Biotechnology Canada Ltd to evaluate the compatibility and stability of Orion's OB-002 in Evofem's Phexxi vaginal gel to develop a Multipurpose Prevention Technology (MPT) product candidate for indications including the prevention of HIV in women.
• What Evofem Biosciences Does: Evofem Biosciences Inc is a commercial-stage biopharmaceutical company committed to developing and commercializing innovative products to address unmet needs in women's sexual and reproductive health, including hormone-free, woman-controlled contraception and protection from certain sexually transmitted infections (STIs)

Osmotica Pharmaceuticals

• The Trade: Osmotica Pharmaceuticals plc (NASDAQ:OSMT) EVP and COO James Schaub acquired a total of 93800 shares at an average price of $1.07. The insider spent $100,366.00 to buy those shares.
• What’s Happening: The company, last month, posted a wider-than-expected quarterly loss.
• What Osmotica Pharmaceuticals Does: Osmotica Pharmaceuticals PLC is a fully-integrated biopharmaceutical company. It is focused on developing, manufacturing and commercializing specialty products.