Reneo Pharmaceuticals And 2 Other Stocks Under $2 Insiders Are Buying

The Dow Jones index closed lower by around 0.1% 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.

Retractable Technologies

• The Trade: Retractable Technologies, Inc. (NYSE:RVP) President and CEO Thomas J Shaw bought a total of 1,210 shares at an average price of $1.12. To acquire these shares, it cost around $1,355.
• What's Happening: On May 15, Retractable Technologies posted a decline in quarterly sales.
• What Retractable Technologies Does: Retractable Technologies Inc designs, develops, manufactures, and markets safety syringes and other safety medical products for the healthcare profession.

Marchex

• The Trade: Marchex, Inc. (NASDAQ:MCHX) CEO Edwin A Miller acquired a total of 7,723 shares at an average price of $1.40. To acquire these shares, it cost around $10,803.
• What's Happening: On May 7, Marchex posted downbeat quarterly sales.
• What Marchex Does: Marchex Inc is a conversational analytics and solutions company that helps businesses connect, drive, measure, convert callers into customers, and connect the voice of the customer to their business.

Reneo Pharmaceuticals

• The Trade: Reneo Pharmaceuticals, Inc. (NASDAQ:RPHM) 10% owner Braden Michael Leonard acquired a total of 414,281 shares at an average price of $1.54. The insider spent around $639,578 to buy those shares.
• What's Happening: On May 13, Reneo Pharmaceuticals entered into a merger agreement with OnKure.
• What Reneo Pharmaceuticals Does: Reneo Pharmaceuticals Inc is a clinical-stage pharmaceutical company.

Now Read This: Top 5 Utilities Stocks You May Want To Dump In May