The Dow Jones index closed higher by over 250 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.

Pacific Health Care Organization

• The Trade: Pacific Health Care Organization, Inc. (NASDAQ:PFHO) CEO and President Tom Kubota bought a total of 6,270 shares at an average price of $0.88. To acquire these shares, it cost around $5,543.
• What's Happening: The company reported net income of $176,427 or $0.01 per share for the three months ended June 30, 2023.
• What Pacific Health Care Organization Does: Pacific Health Care Organization Inc is a specialty workers' compensation managed care company.

System1

• The Trade: System1, Inc. (NYSE:SST) 10% owner Cee Holdings Trust acquired a total of 8,013 shares at an average price of $1.44. To acquire these shares, it cost around $11,575.
• What's Happening: On May 9, System1 posted upbeat first-quarter results.
• What System1 Does: System1 Inc develops technology and data science to operate a responsive acquisition marketing platform.

Gossamer Bio

• The Trade: Gossamer Bio, Inc. (NASDAQ:GOSS) President and CEO Faheem Hasnain acquired a total of 372,000 shares at an average price of $0.67. The insider spent around $250,282 to buy those shares.
• What's Happening: On June 25, Oppenheimer analyst Andreas Argyrides initiated coverage on Gossamer Bio with an Outperform rating and announced a price target of $9.
• What Gossamer Bio Does: Gossamer Bio Inc is a clinical-stage biopharmaceutical company.

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