The Dow Jones index closed higher by over 200 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.

Reneo Pharmaceuticals

• The Trade: Reneo Pharmaceuticals, Inc. (NASDAQ:RPHM) 10% owner Braden Michael Leonard bought a total of 271,826 shares at an average price of $1.40. To acquire these shares, it cost around $380,598.
• What's Happening: On Aug. 13, Reneo Pharmaceuticals posted a second-quarter loss of 16 cents per share.
• What Reneo Pharmaceuticals Does: Reneo Pharmaceuticals Inc is a clinical-stage pharmaceutical company.

AN2 Therapeutics

• The Trade: AN2 Therapeutics, Inc. (NASDAQ:ANTX) 10% owner Braden Michael Leonard acquired a total of 1,500,000 shares at an average price of $1.04. To acquire these shares, it cost around $1.56 million.
• What's Happening: On Aug. 13, AN2 Therapeutics posted a narrower-than-expected quarterly loss.
• What AN2 Therapeutics Does: AN2 Therapeutics Inc is a clinical-stage biopharmaceutical company developing treatments for rare, chronic, and serious infectious diseases with high unmet needs.

Citizens

• The Trade: Citizens, Inc. (NYSE:CIA) President and CEO Jon Stenberg acquired a total of 5,126 shares at an average price of $2.73. The insider spent around $13,994 to buy those shares.
• What's Happening: On Aug. 6, Citizens reported better-than-expected second-quarter financial results.
• What Citizens Does: Citizens Inc is an insurance holding company serving the life insurance needs of individuals in the United States.

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