InMed Pharmaceuticals And 2 Other Penny Stocks Insiders Are Buying

The Dow Jones index closed higher by over 450 points on Thursday. 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.

GeoVax Labs

• The Trade: GeoVax Labs, Inc. (NASDAQ:GOVX) President, CEO David A Dodd acquired a total of 8,729 shares an average price of $2.27. To acquire these shares, it cost around $19,781.
• What’s Happening: GeoVax is expected to report 2023 financial results on Feb. 29, 2024.
• What GeoVax Labs Does: Geovax Labs Inc is a clinical-stage biotechnology company developing human vaccines and immunotherapies against infectious diseases and solid tumor cancers using novel proprietary platforms.

Beneficient

• The Trade: Beneficient (NASDAQ:BENF) Director Peter T Cangany Jr acquired a total of 400,000 shares at at an average price of $0.26. To acquire these shares, it cost around $102,000.
• What’s Happening: On Feb. 13, Beneficient posted a wider quarterly loss.
• What Beneficient Does: Beneficient is a technology-enabled financial services holding company that (together with its subsidiaries) provides simple, rapid, and cost-effective liquidity solutions to participants in the alternative asset industry through its end-to-end online platform, AltAccess.

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InMed Pharmaceuticals

• The Trade: InMed Pharmaceuticals Inc. (NASDAQ:INM) Director Andrew Hull acquired a total of 37,500 shares at an average price of $0.39. The insider spent around $14,625 to buy those shares.
• What’s Happening: InMed Pharmaceuticals, on Oct. 24, said it selected a lead Alzheimer's drug candidate following positive proof-of-concept study data.
• What InMed Pharmaceuticals Does: InMed Pharmaceuticals Inc is a Canada based clinical-stage biopharmaceutical company.

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