The Dow Jones index closed higher by more than 200 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.

ARCA biopharma

• The Trade: ARCA biopharma, Inc. (NASDAQ:ABIO) 10% owner Janus Henderson Biotech Innovation Master Fund Ltd bought a total of 408,777 shares at an average price of $3.49. To acquire these shares, it cost around $1.4 million.
• What's Happening: On April 25, ARCA biopharma posted a first-quarter loss of 14 cents per share.
• What ARCA biopharma Does: ARCA biopharma Inc is a clinical-stage biopharmaceutical company applying a precision medicine approach to the development and commercialization of targeted therapies for cardiovascular diseases.

Citizens

• The Trade: Citizens, Inc. (NYSE:CIA) President and CEO Jon Stenberg acquired a total of 4,580 shares at an average price of $2.59. To acquire these shares, it cost around $11,862.
• What's Happening: On July 1, Citizens President Jon Stenberg was appointed Chief Executive Officer.
• What Citizens Does: Citizens Inc is an insurance holding company serving the life insurance needs of individuals in the United States.

Willamette Valley Vineyards

• The Trade: Willamette Valley Vineyards, Inc. (NASDAQ:WVVI) CEO James W Bernau acquired a total of 2,978 shares at an average price of $3.92. The insider spent around $11,682 to buy those shares.
• What's Happening: On May 13, the company said sales revenue for the three months ended March 31, 2024 and 2023 was $8,803,080 and $8,308,940, respectively.
• What Willamette Valley Vineyards Does: Willamette Valley Vineyards Inc produces and sells premium, super-premium, and ultra-premium wines.

Cyanotech

• The Trade: Cyanotech Corporation (OTC:CYAN) Director Michael A / Davis acquired a total of 10,000 shares at an average price of $0.42. The insider spent around $4,200 to buy those shares.
• What's Happening: On June 26, Cyanotech reported net sales of $23,071,000 for fiscal 2024 compared to $23,178,000 in fiscal 2023.
• What Cyanotech Does: Cyanotech Corp is engaged in the production of natural products derived from microalgae for the nutritional supplements market.

Douglas Elliman

• The Trade: Douglas Elliman Inc. (NYSE:DOUG) Director Mark Zeitchick acquired a total of 40,000 shares at an average price of $1.18. The insider spent $47,196 to buy those shares.
• What's Happening: On July 2, Douglas Elliman announced that it secured a $50 million growth investment from Kennedy Lewis Investment Management.
• What Douglas Elliman Does: Douglas Elliman Inc is a real estate company. It offers sales, rentals, and new development to mortgages and title insurance, among other services related to real estate.

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