The Dow Jones index closed lower 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.

Marygold Companies

• The Trade: The Marygold Companies, Inc. (NYSE:MGLD) 10% owner Nicholas & Melinda Gerber Living Trust bought a total of 80,000 shares at an average price of $1.35. To acquire these shares, it cost around $107,760.
• What's Happening: On May 13, Marygold Companies reported financial results for the three and nine months ended March 31.
• What Marygold Companies Does: The Marygold Companies Inc is engaged in identifying and acquiring established, profitable, undervalued companies in diverse sectors, and managing the portfolio to facilitate growth and add value for all stakeholders.

Standard BioTools

• The Trade: Standard BioTools Inc. (NASDAQ:LAB) Director Casdin Partners FO1-MSV, LP acquired a total of 600,000 shares at an average price of $2.57. To acquire these shares, it cost around $1.54 million.
• What's Happening: On May 8, Standard BioTools posted downbeat quarterly sales.
• What Standard BioTools Does: Standard BioTools Inc develops, manufactures, and sells technologies that help biomedical researchers in their search for developing medicines faster.

Erasca

• The Trade: Erasca, Inc. (NASDAQ:ERAS) Director Alexander W. Casdin acquired a total of 80,000 shares at an average price of $2.27. The insider spent around $181,920 to buy those shares.
• What's Happening: On May 21, Erasca announced closing of underwritten offering of common stock and full exercise of the underwriters' option to purchase additional shares.
• What Erasca Does: Erasca Inc is a clinical-stage precision oncology company singularly focused on discovering, developing, and commercializing therapies for patients with RAS/MAPK pathway-driven cancers.

Barnwell Industries

• The Trade: Barnwell Industries, Inc. (NYSE:BRN) 10% owner Sherwood Revocable Trust acquired a total of 22,486 shares at an average price of $2.82. The insider spent around $63,329 to buy those shares.
• What's Happening: On May 14, Barnwell Industries reported financial results for its second fiscal quarter ended March 31.
• What Barnwell Industries Does: Barnwell Industries Inc is an oil and gas firm. Its areas of operations include acquiring, developing, producing, and selling oil and natural gas.

Don't forget to check out our premarket coverage here