Over $42 Million Bet On This Biotechnology Stock? 4 Penny Stocks Insiders are Buying

US producer prices likely to rise 0.8% on the month in June to match the previous month’s growth. 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

SeaChange International

• The Trade: SeaChange International, Inc. (NASDAQ:SEAC) 10% owner Karen Singer acquired a total of 424,942 shares at an average price of $0.54. To acquire these shares, it cost around $230.22 thousand.
• What’s Happening: SeaChange, and Triller, last month, announced they mutually agreed to terminate their proposed merger.
• What SeaChange International Does: SeaChange International Inc is a provider of multiscreen video solutions for television service providers, telecommunications companies, satellite operators, and media companies.

Entasis Therapeutics

• The Trade: Entasis Therapeutics Holdings Inc. (NASDAQ:ETTX) 10% owner Innoviva Strategic Opportunities LLC acquired a total of 19,270,476 shares at an average price of $2.20. The insider spent around $42.4 million to buy those shares.
• What’s Happening: Entasis Therapeutics, last month, highlighted presentation of data on Sulbactam-Durlobactam and ETX0462 at 2022 ASM Microbe Annual Conference.
• What Entasis Therapeutics Does: Entasis Therapeutics Holdings Inc is a late-stage clinical biopharmaceutical company focused on the discovery, development and commercialization of novel antibacterial products to treat serious infections caused by multidrug-resistant Gram-negative bacteria.

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CalAmp

• The Trade: CalAmp Corp. (NASDAQ:CAMP) Director Wes Cummins acquired a total of 374,207 shares at an average price of $4.13. To acquire these shares, it cost around $1.55 million.
• What’s Happening: CalAmp recently reported worse-than-expected Q1 adjusted EPS and sales results.
• What CalAmp Does: CalAmp Corp provides wireless communications solutions applications to customers.

Crexendo

• The Trade: Crexendo, Inc. (NASDAQ:CXDO) CEO Steven G Mihaylo acquired a total of 10,000 shares at an average price of $2.89. The insider spent $28.9 thousand to buy those shares.
• What’s Happening: The company’s stock gained 25% over the past month.
• What Crexendo Does: Crexendo Inc is a provider of cloud communications, UCaaS, call center, collaboration services, and other cloud business services.