Over $2M Bet On Community Health Systems? Check Out These 3 Penny Stocks Insiders Are Aggressively Buying

Author: Lisa Levin | November 02, 2023 08:12am

The Dow Jones closed higher by over 200 points on Wednesday. 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.

Clearside Biomedical

The Trade: Clearside Biomedical, Inc. (NASDAQ:CLSD) 10% owner Bradford T Whitmore acquired a total of 135,778 shares an average price of $0.74. To acquire these shares, it cost around $99,849.
What’s Happening: Clearside Biomedical posted a wider-than-expected second-quarter loss.
What Clearside Biomedical Does: Clearside Biomedical Inc is a United States-based clinical biopharmaceutical company. It is engaged in developing pharmacological therapies to treat blinding disease of the eye through the suprachoroidal space, or SCS.

Community Health Systems

The Trade: Community Health Systems, Inc. (NYSE:CYH) Director Wayne T Smith acquired a total of 1,000,000 shares at an average price of $2.11. To acquire these shares, it cost around $2.11 million.
What’s Happening: Community Health posted a wider-than-expected third-quarter loss.
What Community Health Systems Does: Community Health Systems Inc is the largest publicly owned hospital operator in the United States.

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Modular Medical

The Trade: Modular Medical, Inc. (NASDAQ:MODD) Director Philip Sheibley acquired a total of 10,000 shares at an average price of $1.29. The insider spent around $12,900 to buy those shares.
What’s Happening: Modular Medical recently announced a partnership with Phillips-Medisize to expand insulin delivery alternatives.
What Modular Medical Does: Modular Medical Inc is a development stage medical device company which focuses on the design, development, and commercialization of an insulin pump using modernized technology to increase pump adoption in the diabetes marketplace.

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Posted In: CLSD CYH MODD