The Dow Jones dropped by more than 100 points 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.3

Creative Medical Technology Holdings

• The Trade: Creative Medical Technology Holdings, Inc. (NASDAQ:CELZ) President and CEO Timothy Warbington bought a total of 42,000 shares at an average price of $0.59. To acquire these shares, it cost around $24.82 thousand.
• What’s Happening: The company’s stock dropped around 82% over the past six months.
• What Creative Medical Technology Does: Creative Medical Technology Holdings Inc is a biotechnology holding company focused on regenerative medicine.

Cyclo Therapeutics

• The Trade: Cyclo Therapeutics, Inc. (NASDAQ:CYTH) Director Francis Patrick Ostronic acquired a total of 5,000 shares at an average price of $1.76. The insider spent around $8.8 thousand to buy those shares.
• What’s Happening: Cyclo Therapeutics, last month, posted a Q2 loss of $0.41 per share.
• What Cyclo Therapeutics Does: Cyclo Therapeutics Inc is a clinical-stage biotechnology firm. The company develops cyclodextrin-based products for the treatment of disease. Its lead drug candidate, Trappsol Cyclo, treats Niemann-Pick Type C disease (NPC).

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TRACON Pharmaceuticals

Great Elm Group