Cyclo Therapeutics And This Other Penny Stock Insiders Are Buying

Author: Lisa Levin | August 03, 2023 08:28am

The Dow Jones closed lower by around 350 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.

Cyclo Therapeutics

The Trade: Cyclo Therapeutics, Inc. (NASDAQ:CYTH) 10% owner Rafael Holdings Inc acquired a total of 4,000,000 shares an average price of $1.25. To acquire these shares, it cost around $5 million.
What’s Happening: Cyclo Therapeutics recently announced publication of data from Phase 2 clinical study of trappsol cyclo for the treatment of niemann-pick disease type C1.
What Cyclo Therapeutics Does: Cyclo Therapeutics Inc is a clinical-stage biotechnology firm. The company develops cyclodextrin-based products for the treatment of disease. Its drug candidate, Trappsol Cyclo, treats Niemann-Pick Type C disease (NPC).

RENN Fund

The Trade: RENN Fund, Inc. (NYSE:RCG) President and CEO Murray Stahl acquired a total of 419 shares at an average price of $1.85. The insider spent around $775.
What’s Happening: RENN Fund shares fell around 1% over the past month.
What RENN Fund Does: RENN Fund Inc is active in the financial services domain. It is a closed-end management investment company formed with the objective of providing long-term capital appreciation by investing substantially in privately placed convertible and equity securities of emerging growth companies traded on the United States securities exchanges.

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Posted In: CYTH RCG