The Dow Jones index closed lower by over 500 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.

Super League Enterprise

• The Trade: Super League Enterprise, Inc. (NASDAQ:SLE) Director Jeff Patrick Gehl bought a total of 50,000 shares at an average price of $1.35. To acquire these shares, it cost around $67,548.
• What's Happening: On June 21, Super League issued a mid-year update from the Company's Chief Executive Office, Ann Hand.
• What Super League Enterprise Does: Super League Enterprise Inc is the rocket ship to the metaverse.

aTyr Pharma

• The Trade: aTyr Pharma, Inc. (NASDAQ:ATYR) Director Paul Schimmel acquired a total of 100,000 shares at an average price of $1.85. To acquire these shares, it cost around $184,613.
• What's Happening: On July 22, HC Wainwright & Co. analyst Joseph Pantginis reiterated aTyr Pharma with a Buy rating and maintained a $35 price target.
• What aTyr Pharma Does: aTyr Pharma Inc is a biotherapeutics company engaged in the discovery and development of first-in-class medicines from its proprietary tRNA synthetase platform.

Retractable Technologies

• The Trade: Retractable Technologies, Inc. (NYSE:RVP) President and CEO Thomas J Shaw acquired a total of 8,788 shares at an average price of $1.09. The insider spent around $9,579 to buy those shares.
• What's Happening: On May 15, Retractable Technologies posted a decline in quarterly sales results.
• What Retractable Technologies Does: Retractable Technologies Inc designs, develops, manufactures, and markets safety syringes and other safety medical products for the healthcare profession.

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