Processa Pharmaceuticals And 2 Other Penny Stocks Insiders Are Buying

The Dow Jones index closed higher by around 150 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.

Abeona Therapeutics

• The Trade: Abeona Therapeutics Inc. ABEO Director, Chief Executive Officer Vishwas Seshadri acquired a total of 20,000 shares an average price of $4.39. To acquire these shares, it cost around $87,800.
• What’s Happening: Abeona Therapeutics recently issued progress update on Pz-cel Biologics License Application.
• What Abeona Therapeutics Does: Abeona Therapeutics Inc is a clinical-stage biopharmaceutical company. The firm is 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 at an average price of $0.98. To acquire these shares, it cost around $1,462,800.
• What’s Happening: OPKO Health recently priced 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.

Check This Out: Cramer Expects Drugmaker Stock To Go 'Even Higher,' As For Kroger: 'What The Heck Is Going On?'

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. The insider spent around $50,504 to buy those 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.