Benzinga - by Avi Kapoor, Benzinga Staff Writer.
The Dow Jones index closed lower by more than 300 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.
Processa Pharmaceuticals
- The Trade: Processa Pharmaceuticals, Inc. (NASDAQ: PCSA) CEO George Ng acquired a total of 10,000 shares an average price of $2.70. To acquire these shares, it cost around $27,000. The company’s Director Justin W Yorke also bought 8,000 shares of the company.
- What’s Happening: Processa Pharmaceuticals priced a public offering of 1.56 million shares (or pre-funded warrants in lieu thereof) and common warrants to purchase up to 1.56 million shares at a combined public offering price per share of common stock (or per pre-funded warrants in lieu thereof) and accompanying common warrant of $4.50.
- What Processa Pharmaceuticals Does: Processa Pharmaceuticals Inc is a clinical-stage biopharmaceutical company based in the United States.
- The Trade: Relmada Therapeutics, Inc. (NASDAQ: RLMD) CEO Sergio Traversa acquired a total of 100,000 shares at at an average price of $3.87. To acquire these shares, it cost around $386,738. The company’s Chief Financial Officer, CA and CO also bought the company’s shares.
- What’s Happening: Relmada Therapeutics, during November, posted a narrower-than-expected quarterly loss.
- What Relmada Therapeutics Does: Relmada Therapeutics Inc is a clinical-stage biotechnology company. It is engaged in developing chemical entities with novel versions of drug products that address areas of high unmet medical need in the treatment of central nervous system diseases.
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PaySign
- The Trade: PaySign, Inc. (NASDAQ: PAYS) 10% owner Topline Capital Partners LP acquired a total of 108,327 shares at an average price of $3.06. The insider spent around $331,257 to buy those shares.
- What’s Happening: PaySign, during November, posted better-than-expected quarterly sales.
- What PaySign Does: PaySign Inc is a provider of 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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