On Wednesday, the Dow Jones index closed higher by around 150 points. Insight into insider transactions sheds light on the confidence or concern insiders feel about the company’s prospects. For investors and traders dabbling in penny stocks, these insider moves can serve as a crucial factor in their investment or trading decisions.
Let’s take a closer look at some recent insider transactions with penny stocks. For a deeper dive, don’t forget to check out Benzinga’s insider transactions platform.
Abeona Therapeutics
- The Trade: Abeona Therapeutics Inc. ABEO Director, Chief Executive Officer Vishwas Seshadri acquired a total of 20,000 shares at an average price of $4.39, amounting to approximately $87,800.
- What’s Happening: Abeona Therapeutics recently issued a progress update on Pz-cel Biologics License Application.
- What Abeona Therapeutics Does: Abeona Therapeutics Inc is a clinical-stage biopharmaceutical company focused on developing gene therapies and plasma-based products for life-threatening rare genetic diseases.
OPKO Health
- The Trade: OPKO Health, Inc. OPK 10% owner Frost Gamma Investments Trust acquired a total of 1,500,000 shares at an average price of $0.98, translating to a purchase of approximately $1,462,800.
- What’s Happening: OPKO Health recently priced a private offering of $200 million convertible senior notes due 2029.
- What OPKO Health Does: OPKO Health Inc is a diversified biotechnology company that operates pharmaceutical and diagnostic development programs.
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Processa Pharmaceuticals
- The Trade: Processa Pharmaceuticals, Inc. PCSA Director, Pres. Research & Development David Young acquired a total of 20,000 shares at an average price of $2.53, with the insider spending approximately $50,504 on these shares.
- What’s Happening: Processa Pharmaceuticals recently regained compliance with the Nasdaq.
- What Processa Pharmaceuticals Does: Processa Pharmaceuticals Inc is a clinical-stage biopharmaceutical company based in the United States.
