Relmada Therapeutics And 2 Other Penny Stocks Insiders Are Aggressively Buying

The Dow Jones closed higher by over 500 points on Monday. Investors, meanwhile, focused on some notable insider trades.

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.

OppFi

• The Trade: OppFi Inc. OPFI Director Theodore G Schwartz bought a total of 15,325 shares at an average price of $2.45. To acquire these shares, it cost around $37.6 thousand.
• What’s Happening: The company, last month, upbeat quarterly results.
• What OppFi Does: OppFi Inc is a financial technology platform that powers banks to help the everyday consumer gain access to credit.

Relmada Therapeutics

• The Trade: Relmada Therapeutics, Inc. RLMD CEO Sergio Traversa acquired a total of 55,250 shares at an average price of $2.10. The insider spent around $115.8 thousand to buy those shares.
• What’s Happening: Relmada Therapeutics recently said the RELIANCE trial for REL-1017 did not meet the primary endpoint.
• 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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Great Elm Group

• The Trade: Great Elm Group, Inc. GEG 10% owner Long Ball Partners LLC acquired a total of 3,775 shares at an average price of $1.89. To acquire these shares, it cost around $7.12 thousand.
• What’s Happening: Great Elm Group, last month, posted a Q1 loss of $0.29 per share.
• What Great Elm Group Does: Great Elm Group Inc operates as a holding company. The company operates in two business lines including durable medical equipment and investment management.