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.

Rave Restaurant

The Trade: Rave Restaurant Group, Inc. ( RAVE ) CEO Brandon Solano acquired a total of 11,376 shares an average price of $1.72. To acquire these shares, it cost around $19,621.

What's Happening: On Feb. 1, RAVE Restaurant Group ( RAVE ) posted a decline in quarterly sales.

What Rave Restaurant Does: Rave Restaurant Group Inc ( RAVE ) operates and franchises pizza buffet, delivery/carry-out, and express restaurants.

AmeriServ Financial

The Trade: AmeriServ Financial, Inc. ( ASRV ) President & CEO ASRV & Bank Jeffrey A Stopko acquired a total of 2,000 shares at at an average price of $2.53. To acquire these shares, it cost around $5,060.

What's Happening: On Jan. 23, AmeriServ Financial ( ASRV ) posted a loss for the fourth quarter.

What AmeriServ Financial Holdings Does: AmeriServ Financial Inc ( ASRV ) is a bank holding company. The company and its subsidiaries derive substantially all of their income from banking, bank-related services, and trust-related services. Its operating segment includes community banking; wealth management and investment/parent.

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Nerdy

The Trade: Nerdy, Inc. ( NRDY ) CEO Charles K. Cohn acquired a total of 67,991 shares at an average price of $2.88. The insider spent around $195,814 to buy those shares.

What's Happening: On March 11, JP Morgan analyst Bryan Smilek assumed Nerdy ( NRDY ) with an Overweight rating and announced a price target of $5.

What Nerdy Does: Nerdy Inc ( NRDY ) is a curated direct-to-consumer platform for live online learning.

Fresh Tracks Therapeutics

The Trade: Fresh Tracks Therapeutics, Inc. ( FRTX ) 10% owner Exploration Capital, LLC acquired a total of 16,329 shares at an average price of $0.92. The insider spent around $14,951 to buy those shares.

What's Happening: The company's stock fell around 8% over the past month.

What Fresh Tracks Therapeutics Does: Fresh Tracks Therapeutics Inc ( FRTX ) is a clinical-stage pharmaceutical company striving to transform patient lives through the development of innovative and differentiated prescription therapeutics.

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