NeuroBo Pharmaceuticals And 2 Other Penny Stocks Insiders Are Buying – NeuroBo Pharmaceuticals (NASDAQ:NRBO)

The Dow Jones index closed lower by approximately 300 points on Tuesday, reflecting possible concerns or confidence around the company’s prospects when insiders buy or sell shares. Investors interested in penny stocks may consider insider transactions as a factor in their investment decisions.

Recent notable insider transactions for penny stocks include:

1. Nanophase Technologies:
– Chief Operating Officer Kevin Cureton purchased 11,675 shares at an average price of $1.49, totaling around $17,414.
– On April 23, Nanophase Technologies announced financial results for the first quarter of 2024. The company produces engineered nanomaterial solutions for various applications.

2. Nuvation Bio:
– Director Xiangmin Cui acquired 500,000 shares at an average price of $2.98, costing approximately $1.5 million.
– HC Wainwright & Co. analyst Robert Burns reiterated Nuvation Bio with a Buy rating and a price target of $8 on June 3. The company focuses on developing therapeutic candidates for oncology needs.

3. NeuroBo Pharmaceuticals:
– President and CEO Faheem Hasnain purchased 2,544,530 shares at an average price of $3.13, spending around $7.97 million.
– On June 25, NeuroBo Pharmaceuticals announced the closing of a $70 million concurrent private placement and registered direct offering. The company is primarily focused on developing pharmaceuticals for cardiometabolic diseases.

For more insights on insider transactions and penny stocks, consider checking out Benzinga’s insider transactions platform.