The Dow Jones index closed higher by over 200 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.

BioCardia

• The Trade: BioCardia, Inc (NASDAQ:BCDA) CEO and President Peter Altman acquired a total of 2,750 shares an average price of $0.37. To acquire these shares, it cost around $1,013.
• What's Happening: On March 27, BioCardia posted a narrower-than-expected quarterly loss.
• What BioCardia Does: BioCardia Inc is a clinical-stage company developing cellular and cell-derived therapeutics for the treatment of cardiovascular and pulmonary diseases with significant unmet medical needs.

Expensify

• The Trade: Expensify, Inc. (NASDAQ:EXFY) 10% owner SF Roofdeck GP LLC acquired a total of 143,639 shares at at an average price of $1.51. To acquire these shares, it cost around $216,222.
• What's Happening: On Feb. 22, Expensify reported better-than-expected fourth-quarter adjusted EPS results.
• What Expensify Does: Expensify Inc is a cloud-based expense management software platform that helps various businesses simplify the way to manage money.

Clearside Biomedical

• The Trade: Clearside Biomedical, Inc. (NASDAQ:CLSD) Director Anthony S Gibney acquired a total of 100,000 shares at an average price of $1.30. The insider spent around $129,665 to buy those shares.
• What's Happening: On April 16, Clearside Biomedical named seasoned biotechnology executive Anthony S. Gibney to its Board of Directors.
• What Clearside Biomedical Does: Clearside Biomedical Inc is a United States-based clinical biopharmaceutical company.

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