The Nasdaq Composite dropped by around 200 points on Friday. 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

OPKO Health

• The Trade: OPKO Health, Inc. (NASDAQ:OPK) 10% owner Frost Gamma Investments Trust bought a total of 50,000 shares at an average price of $1.90. To acquire these shares, it cost around $94.84 thousand.
• What's Happening: OPKO Health, last month, posted a Q2 loss of $0.14 per share.
• What OPKO Health Does: OPKO Health Inc is a diversified biotechnology company that operates pharmaceutical and diagnostic development programs.

GeoVax Labs

• The Trade: GeoVax Labs, Inc. (NASDAQ:GOVX) Director Randal Chase acquired a total of 10,000 shares at an average price of $1.10. The insider spent around $11 thousand to buy those shares.
• What's Happening: The company's stock has dipped over 70% since the start of the year.
• What GeoVax Labs Does: Geovax Labs Inc is us-based clinical-stage biotechnology company. It is engaged in developing immunotherapies and vaccines against cancers and infectious diseases using a novel patented Modified Vaccinia Ankara-Virus Like Particle (GV-MVA-VLP) vector vaccine platform.

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Eton Pharmaceuticals

• The Trade: Eton Pharmaceuticals, Inc. (NASDAQ:ETON) CEO Sean Brynjelsen acquired a total of 10,000 shares at an average price of $2.10. To acquire these shares, it cost around $21.04 thousand.
• What's Happening: Eton Pharmaceuticals, last month, posted a Q2 loss of $0.06 per share.
• What Eton Pharmaceuticals Does: Eton Pharmaceuticals Inc is a United States based specialty pharmaceutical company.

Great Elm Group

• The Trade: Great Elm Group, Inc. (NASDAQ:GEG) 10% owner BC Advisors LLC acquired a total of 13,463 shares at an average price of $2.05. The insider spent $27.59 thousand to buy those shares.
• What's Happening: Great Elm Group recently posted Q4 sales of $18.10 million.
• What Great Elm Group Does: Great Elm Group Inc operates as a holding company. The company operates in two business lines including durable medical equipment and investment management.