The Dow Jones index closed higher by around 100 points 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.

Pineapple Financial

• The Trade: Pineapple Financial Inc. (NYSE:PAPL) CEO Shubha-Jeet Dasgupta bought a total of 2,000 shares at an average price of $1.08. To acquire these shares, it cost around $2,160.
• What's Happening: On July 16, Pineapple Financial posted a wider-than-expected quarterly loss.
• What Pineapple Financial Does: Pineapple Financial Inc is a Canada-based mortgage technology and brokerage company that provides mortgage brokerage services and technology solutions to Canadian mortgage agents, brokers, sub-brokers, brokerages, and consumers.

ProMIS Neurosciences

• The Trade: ProMIS Neurosciences, Inc. (NASDAQ:PMN) Director Patrick D. Kirwin acquired a total of 10,000 shares at an average price of $1.25. To acquire these shares, it cost around $12,492.
• What's Happening: On Aug. 8, ProMIS Neurosciences posted a second-quarter GAAP loss of 13 cents per share.
• What ProMIS Neurosciences Does: ProMIS Neurosciences Inc is a clinical-stage biotechnology company focused on generating and developing antibody therapeutics selectively targeting toxic misfolded proteins in neurodegenerative diseases such as Alzheimer's disease (AD), amyotrophic lateral sclerosis (ALS) and multiple system atrophy (MSA).

Standard BioTools

• The Trade: Standard BioTools Inc. (NASDAQ:LAB) Director Eli Casdin acquired a total of 1,200,000 shares at an average price of $1.59. The insider spent around $1.9 million to buy those shares.
• What's Happening: On July 31, Standard BioTools reported worse-than-expected quarterly financial results and cut FY24 revenue guidance below estimates.
• What Standard BioTools Does: Standard BioTools Inc develops, manufactures, and sells technologies that help biomedical researchers in their search for developing medicines faster. Its tools provide insights into health and disease using proprietary mass cytometry and microfluidics technologies, which serve applications in proteomics and genomics, respectively.

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