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=""> Benzinga's insider transactions platform.3

Nymox Pharmaceutical

• The Trade: Nymox Pharmaceutical Corporation (NASDAQ:NYMX) Director James G. Robinson acquired a total of 1,151,515 shares at an average price of $1.65. To acquire these shares, it cost $1.9 million.
• What's Happening: Nymox, last month, announced closing of $6.4 million financing.
• What Nymox Pharmaceutical Does: Nymox Pharmaceutical Corp is a biopharmaceutical company. The firm and its subsidiaries specialize in the research and development of drugs and diagnostic products for the aging population.

Alzamend Neuro

• The Trade: Alzamend Neuro, Inc. (NASDAQ:ALZN) 10% owner Milton C. Ault III acquired a total of 100,000 shares at an average price of $1.07. The insider spent around $106.85 thousand to buy those shares.
• What's Happening: Alzamend Neuro reported initiation of Phase IIA multiple ascending dose clinical trial for AL001 treatment of dementia related to Alzheimer's.
• What Alzamend Neuro Does: Alzamend Neuro Inc is an early clinical stage biopharmaceutical company. It is focused on developing novel products for the treatment of neurodegenerative diseases and psychiatric disorders, including Alzheimer's. Its mission is to develop and market safe and effective treatments.

Also check this: Executives Buy More Than $90M Of 4 Stocks

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Great Elm Group

• The Trade: Great Elm Group, Inc. (NASDAQ:GEG) 10% owner Long Ball Partners Llc acquired a total of 1,369,984 shares at an average price of $1.81. To acquire these shares, it cost around $2.48 million.
• What's Happening: Great Elm Group recently posted a Q3 loss of $0.22 per share.
• What Great Elm Group Does: Great Elm Group Inc formerly, Great Elm Capital Group Inc operates as a holding company. The company operates in four business lines including durable medical equipment, investment management and real estate with general corporate.

United Health Products

• The Trade: United Health Products, Inc. (OTC:UEEC) CEO Brian Thom acquired a total of 300,000 shares at an average price of $0.42. The insider spent $126 thousand to buy those shares.
• What's Happening: United Health Products recently issued an update on its FDA regulatory process and other matters.
• What United Health Products Does: United Health Products Inc is a US-based company. It mainly manufactures and markets a patented hemostatic gauze for the healthcare and wound care sectors.