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 href="https://www.benzinga.com/sec/insider-trades/"> 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 405,711 shares at an average price of $2.61. To acquire these shares, it cost $1.06 million.
• What’s Happening: Black Diamond Therapeutics recently said it is realigning its resources to extend its cash runway into the third quarter of 2024.
• 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.

Nocopi Technologies

• The Trade: Nocopi Technologies, Inc. (OTC:NNUP) 10% owner Tim Eriksen acquired a total of 225,000 shares at an average price of $0.16. The insider spent around $35.55 thousand to buy those shares.
• What’s Happening: The company’s shares dropped around 22% over the past month.
• What Nocopi Technologies Does: Nocopi Technologies Inc develops and markets specialty reactive inks. Its main business activities are the development and distribution of document security products and the licensing of its patented reactive ink technologies for the entertainment and toy and the document and product authentication markets in the United States and foreign countries.

Also check this: Charles Schwab And 2 Other Stocks Insiders Are Buying

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