The Dow Jones index closed lower by more than 300 points on Wednesday. Insiders’ conduct is often seen as a barometer of their belief in a company’s future. Investors considering penny stocks could factor these transactions into their investment decisions.
Here are some recent significant insider trades in penny stocks. Explore Benzinga’s insider transactions platform for more.
Processa Pharmaceuticals
- The Trade: Processa Pharmaceuticals, Inc. PCSA CEO George Ng purchased 10,000 shares at an average price of $2.70, totaling around $27,000. The firm’s Director Justin W Yorke also acquired 8,000 shares.
- What’s Happening: Processa Pharmaceuticals conducted a public offering of 1.56 million shares (or pre-funded warrants) and common warrants at a combined price per share (or per pre-funded warrant) 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.
Relmada Therapeutics
- The Trade: Relmada Therapeutics, Inc. RLMD CEO Sergio Traversa bought 100,000 shares at at an average price of $3.87, totaling about $386,738. The company’s Chief Financial Officer, CA and CO also purchased company shares.
- What’s Happening: Relmada Therapeutics posted a narrower-than-expected quarterly loss in November.
- What Relmada Therapeutics Does: Relmada Therapeutics Inc is a clinical-stage biotechnology company focused on developing chemical entities with novel versions of drug products for the treatment of central nervous system diseases.
PaySign
- The Trade: PaySign, Inc. PAYS 10% owner Topline Capital Partners LP acquired 108,327 shares at an average price of $3.06, totaling around $331,257.
- What’s Happening: PaySign reported better-than-expected quarterly sales in November.
- What PaySign Does: PaySign Inc is a provider of prepaid card programs, comprehensive patient affordability offerings, digital banking services, and integrated payment processing tailored for businesses, consumers, and government institutions.
Don’t forget to check out our premarket coverage here
