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.

Avalo Therapeutics

• The Trade: Avalo Therapeutics, Inc. (NASDAQ:AVTX) 10% owner Caissa Capital Management Ltd acquired a total 25,000 shares an average price of $2.95. To acquire these shares, it cost around $73.87 thousand.
• What’s Happening: Avalo Therapeutics filed for mixed shelf of up to $375 million.
• What Avalo Therapeutics Does: Avalo Therapeutics Inc is a clinical-stage precision medicine company that discovers, develops, and commercializes targeted therapeutics for patients with significant unmet clinical needs in immunology, immuno-oncology, and rare genetic diseases.

JOANN

• The Trade: JOANN Inc. (NASDAQ:JOAN) EVP, CFO Scott Sekella acquired a total of 27,700 shares at an average price of $1.59. The insider spent around $44.04 thousand to buy those shares.
• What’s Happening: JOANN posted better-than-expected Q4 sales.
• What JOANN Does: JOANN Inc is engaged in the sewing business. The company provides fabrics, sewing supplies, yarn and needle arts, paper crafting, jewelry making, fabric crafting, craft lights, wedding decorations, and home decor products.

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CNS Pharmaceuticals

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MAIA Biotechnology