The Dow Jones index closed lower by around 0.2% on Friday. 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 ) CFO Daron Evans acquired a total of 50,000 shares an average price of $1.93. To acquire these shares, it cost around $96,345.

What's Happening: On Feb. 13, Rezolute ( RZLT ) posted a narrower-than-expected quarterly loss.

What Rezolute Does: Rezolute Inc ( RZLT ) is a biopharmaceutical company. The company develops novel, sustained-release injectable therapies.

Retractable Technologies

The Trade: Retractable Technologies, Inc. ( RVP ) President and CEO Thomas J Shaw acquired a total of 6,068 shares at at an average price of $1.23. To acquire these shares, it cost around $7,446.

What's Happening: On Nov. 14, Retractable Technologies ( RVP ) reported that its loss from operations was $8.7 million for the first nine months of 2023.

What Retractable Technologies Does: Retractable Technologies Inc ( RVP ) designs, develops, manufactures, and markets safety syringes and other safety medical products for the healthcare profession.

Check This Out: Top 3 Consumer Stocks That May Collapse This Month

Marpai

The Trade: Marpai, Inc. ( MRAI ) CEO Damien Lamendola acquired a total of 910,000 shares at an average price of $1.65. The insider spent around $1.5 million to buy those shares.

What's Happening: On March 6, Marpai ( MRAI ) reported better-than-expected preliminary fourth-quarter net revenue results.

What Marpai Does: Marpai Inc ( MRAI ) operates as a health plan company. It uses A.I. to predict and help prevent costly events for its members, and in turn, lower its clients' health care costs.

Advantage Solutions

The Trade: Advantage Solutions Inc. ( ADV ) CFO Christopher Growe acquired a total of 10,000 shares at an average price of $3.49. The insider spent around $34,868 to buy those shares.

What's Happening: On Feb. 29, Advantage Solutions ( ADV ) posted downbeat quarterly results.

What Advantage Solutions Does: Advantage Solutions Inc ( ADV ) is the provider of outsourced sales and marketing solutions to consumer goods companies and retailers.

Don't forget to check out our premarket coverage here