The Dow Jones index closed lower by over 100 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.
WidePoint
- The Trade: WidePoint Corporation (NYSE:WYY) CEO Jin Kang bought a total of 1,000 shares at an average price of $3.50. To acquire these shares, it cost around $3,499.
- What's Happening: On Aug. 14, WidePoint posted a second-quarter GAAP loss of 5 cents per share.
- What WidePoint Does: WidePoint Corp is a provider of Technology Management as a Service (TMaaS) that consists of federally certified communications management, identity management, interactive bill presentment and analytics, and Information Technology as a Service solution.
ProMIS Neurosciences
- The Trade: ProMIS Neurosciences, Inc. (NASDAQ:PMN) 10% owner Michael S Gordon acquired a total of 93,223 shares at an average price of $1.25. To acquire these shares, it cost around $116,880.
- What's Happening: On Aug. 29, ProMIS Neurosciences filed for resale from time to time of 56.5 million common shares of the company by selling stockholders.
- What ProMIS Neurosciences Does: ProMIS Neurosciences Inc is a clinical-stage biotechnology company focused on generating and developing antibody therapeutics selectively targeting toxic misfolded proteins in neurodegenerative diseases such as Alzheimer's disease (AD), amyotrophic lateral sclerosis (ALS) and multiple system atrophy (MSA).
Emmaus Life Sciences
- The Trade: Emmaus Life Sciences, Inc. (OTC:EMMA) Director Seah H. Lim acquired a total of 20,000 shares at an average price of $0.04. The insider spent around $800 to buy those shares.
- What's Happening: On Sept. 10, the company said net revenues for the six months ended June 30 were $7.9 million, down from $17.5 million in the year-ago period.
- What Emmaus Life Sciences Does: Emmaus Life Sciences Inc is a biopharmaceutical company engaged in the discovery, development, and commercialization of new treatments and therapies predominantly for rare and orphan diseases.
- FedEx Gears Up For Q1 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts
