The Dow Jones closed lower by nearly 500 points 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 Benzinga's insider transactions platform.

Isoray

• The Trade: Isoray, Inc. (NASDAQ:ISR) CFO Jonathan Hunt bought a total of 85,404 shares at an average price of $0.38. To acquire these shares, it cost around $32.5 thousand.
• What's Happening: The company, last month, said revenue for the first quarter of fiscal 2023 dropped 33% to $1.72 million.
• What Isoray Does: Isoray, Inc., based in Richland, Washington, develops, manufactures, sells, and markets isotope-based medical products and devices for the treatment of cancer and other malignant diseases in the United States and internationally.

Redwire

• The Trade: Redwire Corporation (NYSE:RDW) Director John Bolton acquired a total of 9,023 shares at an average price of $2.01. The insider spent around $18.14 thousand to buy those shares.
• What's Happening: The company, last month, said revenue increased 14.0% to $37.2 million for the three months ended September 30, 2022.
• What Redwire Does: Redwire Corporation, headquartered in Jacksonville, Florida, is a space infrastructure company.

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Vapotherm

• The Trade: Vapotherm, Inc. (NYSE:VAPO) SVP and Chief Technology Officer Brian Lawrence acquired a total of 100,000 shares at an average price of $1.33. To acquire these shares, it cost around $132.95 thousand.
• What's Happening: Vapotherm, last month, reported worse-than-expected Q3 results..
• What Vapotherm Does: Vapotherm, founded in 1993, is a medical technology company.

Pardes Biosciences

• The Trade: Pardes Biosciences, Inc. (NASDAQ:PRDS) 10% owner Foresite Capital Fund V, L.P. acquired a total of 637,420 shares at an average price of $0.85. The insider spent $541.81 thousand to buy those shares.
• What's Happening: Pardes Biosciences, last month, posted a Q3 loss of $0.40 per share.
• What Pardes Biosciences Does: Pardes Biosciences, incorporated in 2020, is a clinical stage biopharmaceutical company.