The Dow Jones index closed higher by around 75 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.

Earth Science Tech

The Trade: Earth Science Tech, Inc. ( ETST ) Director Yovan Arturo Sanchez acquired a total of 100,000 shares an average price of $0.08. To acquire these shares, it cost around $7,500.

What's Happening: On Jan. 29, Earth Science Tech ( ETST ) announced a $5 million common stock repurchase program.

What Earth Science Tech Does: Earth Science Tech Inc ( ETST ) is a diversified holding company. Currently, the company is focused on emerging prospects in the health and wellness industry.

Standard BioTools

The Trade: Standard BioTools Inc. ( LAB ) Director Eli Casdin acquired a total of 251,403 shares at at an average price of $2.57. To acquire these shares, it cost around $646,169.

What's Happening: On Feb. 28, the company reported better-than-expected fourth-quarter revenue results.

What Standard BioTools Does: Standard BioTools Inc ( LAB ) develops, manufactures, and sells technologies that help biomedical researchers in their search for developing medicines faster.

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Quantum-Si

The Trade: Quantum-Si incorporated ( QSI ) CFO Jeffry R. Keyes acquired a total of 50,000 shares at an average price of $1.61. The insider spent around $80,500 to buy those shares.

What's Happening: On Feb. 29, Quantum-Si posted upbeat quarterly results.

What Quantum-Si Does: Quantum-Si Inc ( QSI ) is focused on revolutionizing the growing field of proteomics.

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