The Dow Jones closed higher 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.

Cryomass Technologies

• The Trade: Cryomass Technologies Inc. (OTC:CRYM) CEO Christian Noel bought a total of 25,000 shares at an average price of $0.16. To acquire these shares, it cost around $3.95 thousand.
• What's Happening: The company's shares have tumbled 30% over the past six months.
• What Cryomass Technologies Does: Cryomass Technologies Inc, formerly Andina Gold Corp provides marketing, IP, and management services to two cannabis dispensaries and to cannabis grow facility, for which cannabis licenses are held by its principal business partner.

biote

• The Trade: biote Corp. (NASDAQ:BTMD) Director Andrew R Heyer acquired a total of 200,000 shares at an average price of $3.00. The insider spent around $600 thousand to buy those shares.
• What's Happening: Biote Announces priced secondary offering of 7.39 million shares of common stock at $3 per share.
• What biote Does: Biote Corp is engaged in bioidentical hormone replacement optimization platform and complementary nutraceutical business.

Check This Out: US Stocks Close Mixed, Market Volatility Increases

Werewolf Therapeutics

• The Trade: Werewolf Therapeutics, Inc. (NASDAQ:HOWL) Director Rajeev Shah acquired a total of 1,853,000 shares at an average price of $2.21. To acquire these shares, it cost around $4.1 million.
• What's Happening: EF Hutton recently initiated coverage on Werewolf Therapeutics with a Buy rating and announced a price target of $8.3.
• What Werewolf Therapeutics Does: Werewolf Therapeutics Inc is an innovative biopharmaceutical company pioneering the development of therapeutics engineered to stimulate the body's immune system for the treatment of cancer.

Don't forget to check out our premarket coverage here

Erasca

• The Trade: Erasca, Inc. (NASDAQ:ERAS) Chairman and CEO Jonathan Lim acquired a total of 60,000 shares at an average price of $3.86. The insider spent $231.42 thousand to buy those shares.
• What's Happening: Erasca, last month, said first patient was dosed in HERKULES-1 Phase 1b trial evaluating ERAS-007 and ERAS-601 MAPKlamp combination in RAS/MAPK pathway-altered solid tumors.
• What Erasca Does: Erasca Inc is a clinical-stage precision oncology company singularly focused on discovering, developing, and commercializing therapies for patients with RAS/MAPK pathway-driven cancers.