The Dow Jones dropped by over 100 points on Friday. 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. Context Therapeutics The Trade: Context Therapeutics Inc. (NASDAQ:CNTX) CEO Martin Lehr bought a total of 5,040 shares at an average price of $0.97. To acquire these shares, it cost around $4.9 thousand. What's Happening: Context Therapeutics announced its clinical trial collaborator, Stemline Therapeutics, received approval from the FDA for ORSERDU in ER+, HER2-, ESR1-mutated breast cancer. What Context Therapeutics Does: Context Therapeutics Inc is a clinical-stage biopharmaceutical company dedicated to improving the lives of women living with cancer. AmeriServ Financial The Trade: AmeriServ Financial, Inc. (NASDAQ:ASRV) President & CEO ASRV & Bank Jeffrey Stopko acquired a total 3,116 shares at an average price of $4.06. The insider spent around $12.64 thousand to buy those shares. What's Happening: AmeriServ Financial reported a drop in quarterly earnings. What AmeriServ Financial Does: AmeriServ Financial Inc is a bank holding company. Check This Out: 5 Cheapest Industrials Stocks You Should Think About Liberty Star Uranium & Metals The Trade: Liberty Star Uranium & Metals Corp. (OTC:LBSR) Director, COB, Secretary, Treasurer Pete O'Heeron acquired a total of 80,564 shares at an average price of $0.13. To acquire these shares, it cost around $10.15 thousand. What's Happening: The company's stock gained 25% over the past six months. What Liberty Star Uranium & Metals Does: Liberty Star Uranium & Metals Corp is an Arizona-based mineral exploration company. Donâ€t forget to check out our premarket coverage here