The Dow Jones index closed lower 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.

Kronos Bio

• The Trade: Kronos Bio, Inc. (NASDAQ:KRON) President and CEO Norbert W Bischofberger bought a total of 3,005,122 shares at an average price of $1.04. To acquire these shares, it cost around $3.12 million.
• What's Happening: On May 21, Kronos Bio named Deborah Knobelman as COO and CFO.
• What Kronos Bio Does: Kronos Bio Inc is a clinical-stage biopharmaceutical company dedicated to the discovery and development of novel cancer therapeutics designed to transform patient outcomes through a precision medicine plan by targeting dysregulated transcription.

Assertio Holdings

• The Trade: Assertio Holdings, Inc. (NASDAQ:ASRT) Director Jeff L Vacirca acquired a total of 10,000 shares at an average price of $1.11. To acquire these shares, it cost around $11,100.
• What's Happening: On June 6, Assertio Holdings reported inducement grants under NASDAQ Listing Rule 5635(c)(4).
• What Assertio Holdings Does: Assertio Holdings Inc is a pharmaceutical company. It is engaged in providing solutions to advance patient care in the areas of neurology, orphan and specialty medicines.

Nanophase Technologies

• The Trade: Nanophase Technologies Corporation (OTC:NANX) Director R Janet Whitmore acquired a total of 18,369 shares at an average price of $1.44. The insider spent around $26,487 to buy those shares.
• What's Happening: On April 23, Nanophase Technologies announced financial results for the first quarter ended March 31, 2024.
• What Nanophase Technologies Does: Nanophase Technologies Corp is engaged in the production of engineered nanomaterial solutions and larger, sub-micron, materials such as personal care sunscreens, architectural coatings, industrial coating applications, and abrasion-resistant additives, plastics additives, medical diagnostics, energy.