US crude oil futures traded lower on Monday. 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.

Black Diamond Therapeutics

• The Trade: Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) 10% owner BB Biotech Ag acquired a total of 252,556 shares at an average price of $3.48. To acquire these shares, it cost $879.82 thousand.
• What’s Happening: Wedbush, last month, downgraded Black Diamond Therapeutic from Outperform to Neutral.
• What Black Diamond Therapeutics Does: Black Diamond Therapeutics Inc is a precision oncology medicine company. It is engaged in the discovery and development of small molecule, tumor-agnostic therapies.

Hemisphere Media Group

• The Trade: Hemisphere Media Group, Inc. (NASDAQ:HMTV) 10% owner Debra Fine acquired a total of 215,094 shares at an average price of $4.14. The insider spent around $890.02 thousand to buy those shares.
• What’s Happening: Hemisphere Media, last month, posted Q4 sales of $56.80 million.
• What Hemisphere Media Group Does: Hemisphere Media Group Inc is a Spanish-language media company. It owns and operates several Spanish-language networks and content production platform, including movie and telenovela channels, Hispanic entertainment genres, and the cable television networks.

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

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