The Dow Jones closed slightly lower on Tuesday. 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.

Vivani Medical

• The Trade: Vivani Medical, Inc. (NASDAQ:VANI) Director Gregg Williams acquired a total of 13,997 shares an average price of $0.95. To acquire these shares, it cost around $13,279.
• What's Happening: Vivani Medical posted a wider-than-expected quarterly loss.
• What Vivani Medical Does: Vivani Medical Inc is a preclinical stage biopharmaceutical company. It develops miniaturized, subdermal implants utilizing its proprietary NanoPortal technology to enable long-term, near constant-rate delivery of a broad range of medicines to treat chronic diseases.

Pacific Health Care Organization

• The Trade: Pacific Health Care Organization, Inc. (OTC:PFHO) CEO and President Tom Kubota acquired a total of 54,047 shares at an average price of $0.82. The insider spent around $44,319.
• 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. The company serves any size employer in the state of California as well as insurers, third-party administrators, self-administered employers, municipalities and other industries.

Charge Enterprises

• The Trade: Charge Enterprises, Inc. (NASDAQ:CRGE) Director Philip Scala acquired a total of 44,000 shares at an average price of $0.48. To acquire these shares, it cost around $21,120.
• What's Happening: Charge Enterprises named COO Craig Denson as interim CEO and lead independent director Amy Hanson as Chair effective Aug. 31, after Andrew Fox resigned.
• What Charge Enterprises Does: Charge Enterprises Inc is an electrical, broadband, and electric vehicle (EV) charging infrastructure company that provides clients with end-to-end project management services, from advising, designing, engineering, acquiring, and installing equipment, to monitoring, servicing, and maintenance.

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Bone Biologics

• The Trade: Bone Biologics Corporation (NASDAQ:BBLG) CEO Jeff Frelick acquired a total of 9,500 shares at an average price of $0.69. The insider spent $ $6,530 to buy those shares.
• What's Happening: Bone Biologics priced its public offering of 2.54 million shares at $1.97 per share.
• What Bone Biologics Does: Bone Biologics Corp is a healthcare solutions provider based in the United States. As a biotechnology firm, it engages its efforts in developing therapeutics to aid bone regeneration.