Over $2M Bet On Vivani Medical? Check Out These 3 Penny Stocks Insiders Are Aggressively Buying

Author: Lisa Levin | May 02, 2023 08:37am

The Dow Jones closed slightly lower on Monday. 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.

Earth Science Tech

The Trade: Earth Science Tech, Inc. (OTC:ETST) CEO Giorgio R Saumat acquired a total 5,005,000 shares an average price of $0.01. To acquire these shares, it cost around $25.21 thousand.
What’s Happening: The company’s stock gained 10% over the past six months.
What Earth Science Tech Does: Earth Science Tech Inc is a biotechnology company. The company is engaged in research and development for hemp cannabinoid (CBD), nutraceutical, pharmaceutical, and medical device. Its products include CBD Hemp Oil, CBD Capsules, CBD Pets, and CBD Chocolates.

Vivani Medical

The Trade: Vivani Medical, Inc. (NASDAQ:VANI) Director Gregg Williams acquired a total of 2,040,494 shares at an average price of $1.08. The insider spent around $2.2 million to buy those shares.
What’s Happening: The company posted FY22 loss of $0.36 per share.
What Vivani Medical Does: Vivani Medical Inc is a preclinical stage biopharmaceutical company.

Fomo Worldwide

The Trade: Fomo Worldwide, Inc. (OTC:FOMC) CEO, Director Vikram P Grover acquired a total of 8,548,815 shares at an average price of $0.14. To acquire these shares, it cost around $1.17 million.
What’s Happening: The company agreed to acquire Business Media Solutions, Inc., a provider of online learning, digital marketing, education content, and platform management services.
What Fomo Worldwide Does: Fomo Worldwide Inc is focused on business incubation and acceleration.

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Posted In: ETST FOMC VANI