Wednesday saw the Dow Jones index close lower by more than 300 points. 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.
Let’s take a look at a few recent notable insider transactions for penny stocks.
Processa Pharmaceuticals
- Insider Trade: George Ng, CEO of Processa Pharmaceuticals, Inc. (PCSA), acquired 10,000 shares averaging $2.70, totaling around $27,000. Director Justin W Yorke also purchased 8,000 shares.
- Company Activity: Processa Pharmaceuticals priced a public offering of 1.56 million shares at a combined public offering price per share of common stock and accompanying common warrant of $4.50.
- Company Overview: Processa Pharmaceuticals Inc is a clinical-stage biopharmaceutical company based in the United States.
Relmada Therapeutics
- Insider Trade: Sergio Traversa, CEO of Relmada Therapeutics, Inc. (RLMD), bought 100,000 shares at an average price of $3.87, amounting to approximately $386,738. The company’s Chief Financial Officer, CA, and CO also acquired shares.
- Company Update: In November, Relmada Therapeutics posted a narrower-than-expected quarterly loss.
- Company Focus: Relmada Therapeutics Inc is a clinical-stage biotechnology company, developing chemical entities with novel versions of drug products to treat central nervous system diseases.
PaySign
- Insider Trade: Topline Capital Partners LP, a 10% owner of PaySign, Inc. (PAYS), bought 108,327 shares averaging $3.06, amounting to about $331,257.
- Company Update: In November, PaySign reported better-than-expected quarterly sales.
- Company Profile: PaySign Inc provides prepaid card programs, comprehensive patient affordability offerings, digital banking services, and integrated payment processing designed for businesses, consumers, and government institutions.
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