Mark Newcomer, CEO of Paysign, Inc. (NASDAQ:PAYS), recently sold a significant portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Newcomer sold a total of 100,000 shares over three days, from January 21 to January 23, 2025. The sales were executed at prices ranging from $2.8451 to $2.8867 per share, amounting to a total transaction value of $287,984. The sale comes amid a challenging period for Paysign's stock, which has declined over 43% in the past six months, with shares currently trading near $2.90.
These transactions were carried out under a Rule 10b5-1 trading plan, which Newcomer adopted on June 12, 2024. According to InvestingPro analysis, Paysign appears undervalued at current levels, with analysts setting price targets between $6.00 and $7.25. After the transactions, Newcomer retains direct ownership of 9,036,886 shares in Paysign, Inc., representing a significant stake in the $155 million market cap company. For deeper insights into Paysign's valuation and 7 additional ProTips, visit InvestingPro.
In other recent news, Paysign, Inc. has reported a 23% rise in revenue, reaching $15.3 million in the third quarter. This growth is attributed to a robust performance, particularly in its patient affordability business, which surged by 219%. Alongside this, the company noted a 20.6% increase in adjusted EBITDA to $2.8 million. Paysign also revealed expansion plans, including a new partnership with a leading pharmaceutical company. Despite challenges in the plasma business and ongoing legal expenses, the firm projects year-end revenues between $56.5 million and $58.5 million, and a net income guidance of $3 million to $3.5 million. These developments highlight Paysign's financial health and strategic direction. The company's focus on patient affordability and efficient onboarding of new and established drug programs positions it favorably in the market.
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