Charles & Colvard And 3 Other Stocks Under $2 Insiders Are Buying

The Dow Jones index closed higher by around 0.1% 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.

Rezolute

• The Trade: Rezolute, Inc. RZLT Chief Medical Officer Brian Kenneth Roberts acquired a total of 7,000 shares an average price of $1.31. To acquire these shares, it cost around $9,142.
• What’s Happening: Rezolute posted a narrower-than-expected quarterly loss.
• What Rezolute Does: Rezolute Inc is a biopharmaceutical company. The company develops novel, sustained-release injectable therapies.

Cosmos Health

• The Trade: Cosmos Health Inc. COSM CEO Grigorios Siokas acquired a total of 60,000 shares at at an average price of $0.83. To acquire these shares, it cost around $49,806.
• What’s Happening: Cosmos Health announced that it has successfully completed the acquisition of Cloudscreen®, a cutting-edge Artificial Intelligence (AI) powered platform.
• What Cosmos Health Does: Cosmos Health Inc is engaged in the nutraceuticals sector through its own proprietary lines of products 'Sky Premium Life' and 'Mediterranation'.

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InMed Pharmaceuticals

• The Trade: InMed Pharmaceuticals Inc. INM President and CEO Eric A Adams acquired a total of 41,600 shares at an average price of $0.36. The insider spent around $14,922 to buy those shares.
• What’s Happening: InMed Pharmaceuticals, during October, said it selected a lead Alzheimer's drug candidate following positive proof-of-concept study data.
• What InMed Pharmaceuticals Does: InMed Pharmaceuticals Inc is a Canada based clinical-stage biopharmaceutical company.

Charles & Colvard

• The Trade: Charles & Colvard, Ltd. CTHR Director Ollin B Sykes acquired a total of 125,000 shares at an average price of $0.37. The insider spent around $46,737 to buy those shares.
• What’s Happening: Charles & Colvard posted a quarterly loss of 9 cents per share.
• What Charles & Colvard Does: Charles & Colvard Ltd manufactures, markets, and distributes finished jewellery which also includes moissanite gemstone in the jewellery market.

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