The Dow Jones closed higher by more than 370 points on Monday. 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.

Context Therapeutics

• The Trade: Context Therapeutics Inc. (NASDAQ:CNTX) CEO Martin Lehr bought a total of 5,606 shares at an average price of $0.87. To acquire these shares, it cost around $4.9 thousand.
• What's Happening: Context Therapeutics recently announced its clinical trial collaborator, Stemline Therapeutics, received approval from the FDA for ORSERDU in ER+, HER2-, ESR1-mutated breast cancer.
• What Context Therapeutics Does: Context Therapeutics Inc is a clinical-stage biopharmaceutical company dedicated to improving the lives of women living with cancer.

American Resources

• The Trade: American Resources Corporation (NASDAQ:AREC) CEO Mark C Jensen acquired a total 5,000 shares at an average price of $1.54. The insider spent around $7.71 thousand to buy those shares.
• What's Happening: American Resources said it has reduced debt by over $9 million.
• What American Resources Does: American Resources Corp is a next-generation, environmentally and socially responsible supplier of high-quality raw materials to the new infrastructure market.

Check This Out: Investor Optimism Improves Slightly As US Stocks Record Gains

Crypto Company

• The Trade: The Crypto Company (OTC:CRCW) CEO, CFO and Director Ron Levy acquired a total of 125,000 shares at an average price of $0.20. To acquire these shares, it cost around $25 thousand.
• What's Happening: The company's stock dipped over 60% over the past six months.
• What Crypto Company Does: The Crypto Co is a United States-based company. It is engaged in the business of providing consulting services and education for distributed ledger technologies for the building of technological infrastructure and enterprise blockchain technology solutions.

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Pacific Health Care Organization

• The Trade: Pacific Health Care Organization, Inc. (OTC:PFHO) CEO and President Tom Kubota acquired a total of 9,000 shares at an average price of $0.99. The insider spent $8.87 thousand to buy those shares.
• What's Happening: The company's shares gained around 17% over the past month.
• What Pacific Health Care Organization Does: Pacific Health Care Organization Inc is a specialty workers' compensation managed care company.