US crude oil futures traded lower on Thursday. Investors, meanwhile, focused on some notable insider trades.

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.

Panacea Life Sciences

• The Trade: Panacea Life Sciences Holdings, Inc. (OTC:PLSH) CEO Leslie Buttorff acquired a total of 18,050 shares at an average price of $0.50. To acquire these shares, it cost $8.99 thousand.
• What’s Happening: Panacea Life Sciences, last month, entered into a commercial partnership with Chanelle McCoy Health, a CBD pharmaceutical company, based out of the UK and Ireland.
• What Panacea Life Sciences Does: Panacea Life Sciences Holdings Inc is engaged in the production of legal, trace THC, hemp-derived cannabinoid products for consumers and pets.

Recruiter.com Group

• The Trade: Recruiter.com Group, Inc. (NASDAQ:RCRT) Director, CEO and Executive Chairman Evan Sohn acquired a total of 5,000 shares at an average price of $2.00. The insider spent around $10 thousand to buy those shares.
• What’s Happening: Deel recently selected Recruiter.com as a Talent Marketplace partner.
• What Recruiter.com Group Does: Recruiter.Com Group Inc is a hiring platform for the network of recruiters. The company empowers businesses to recruit specialized talent faster with virtual teams of recruiters and AI job-matching technology.

Also check this: Executives Buy More Than $400M Of 3 Stocks

MedAvail Holdings

• The Trade: MedAvail Holdings, Inc. (NASDAQ:MDVL) 10% owner Ally Bridge Group Ny Llc acquired a total of 14,117,646 shares at an average price of $1.06. To acquire these shares, it cost around $15 million.
• What’s Happening: MedAvail recently reported better-than-expected Q4 sales results and issued Q1 sales guidance above estimates.
• What MedAvail Holdings Does: MedAvail Holdings Inc is a telehealth-enabled pharmacy technology company. It operates in two segments: Retail Pharmacy Services and Pharmacy Technology.

Arlington Asset Investment