The Dow Jones closed higher on Thursday. 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.

Evelo Biosciences

• The Trade: Evelo Biosciences, Inc. (NASDAQ:EVLO) 10% owner Noubar Afeyan acquired a total of 5,411,255 shares an average price of $2.31. To acquire these shares, it cost around $12.5 million.
• What’s Happening: Evelo Biosciences recently announced a $25.5 million private placement.
• What Evelo Biosciences Does: Evelo Biosciences Inc is a United States-based biotechnology company. It is engaged in discovering and developing a new class of orally delivered investigational medicines that are intended to act on cells in the small intestine to produce therapeutic effects throughout the body.

Dalrada Financial

• The Trade: Dalrada Financial Corporation (OTC:DFCO) CEO Brian Bonar acquired a total of 79,550 shares at an average price of $0.14. The insider spent around $11,510.
• What’s Happening: Dalrada Financial announced plans to continue its restructuring efforts to reduce overall expenses by around $3 million annually, through streamlined operations and well-defined leadership roles.
• What Dalrada Financial Does: Dalrada Financial Corp is a United States-based company engaged in providing financial, insurance, benefit, and business process outsourcing products and services to companies.

Augusta Gold

• The Trade: Augusta Gold Corp. (OTC:AUGG) Executive Chairman Richard Warke acquired a total of 10,000 shares at an average price of $0.78. To acquire these shares, it cost around $7,750.
• What’s Happening: Augusta Gold recently said that it is advancing on its plan to complete a Feasibility Study at its 100% owned Reward Project.
• What Augusta Gold Does: Augusta Gold Corp is an exploration-stage company. The company is primarily engaged in the acquisition and exploration of gold properties.

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