Wrap Technologies And 2 Other Stocks Under $2 Insiders Are Aggressively Buying

The Dow Jones closed lower by more than 300 points on Tuesday. 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.

Wrap Technologies

• The Trade: Wrap Technologies, Inc. (NASDAQ:WRAP) 10% owner Elwood G Norris acquired a total 20,000 shares an average price of $1.31. To acquire these shares, it cost around $26.1 thousand.
• What’s Happening: Wrap Technologies announced CEO change and preliminary estimated financial results for Q1.
• What Wrap Technologies Does: Wrap Technologies Inc offers public safety technologies and services. The firm develops policing solutions to law enforcement and security personnel.

Chembio Diagnostics

• The Trade: Chembio Diagnostics, Inc. (NASDAQ:CEMI) 10% owner Joseph Edelman acquired a total of 243,448 shares at an average price of $0.45. The insider spent around $109.41 thousand to buy those shares.
• What’s Happening: The company’s stock jumped 32% over the past month.
• What Chembio Diagnostics Does: Chembio Diagnostics Inc is a company that develops, manufactures, and commercializes point-of-care diagnostic tests that detect infectious diseases.

GeoVax Labs

• The Trade: GeoVax Labs, Inc. (NASDAQ:GOVX) President, CEO David A Dodd acquired a total of 32,000 shares at an average price of $0.64. To acquire these shares, it cost around $20.44 thousand.
• What’s Happening: GeoVax announced expansion of next-generation COVID-19 vaccine rights to include omicron variants and use against orthopoxviruses.
• 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.

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