The Nasdaq recorded gains for the fourth week in a row. 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.

Adamas One

• The Trade: Adamas One Corp. (NASDAQ:JEWL) President and CEO John Grdina bought a total of 20,000 shares at an average price of $2.51. To acquire these shares, it cost around $50.16 thousand.
• What's Happening: Adamas One recently reported $1.78M in initial lab grown diamond sales for FY22.
• What Adamas One Does: Adamas One Corp is a high-tech diamond company that uses its proprietary technology to produce high-quality, single-crystal diamonds and diamond materials through a CVD process, which it refers to as Diamond Technology.

MAIA Biotechnology

• The Trade: MAIA Biotechnology, Inc. (NYSE:MAIA) Director Stan Smith acquired a total of 236 shares at an average price of $4.24. The insider spent around $1 thousand to buy those shares.
• What's Happening: MAIA Biotechnology expanded its Phase 2 THIO-101 trial to Europe.
• What MAIA Biotechnology Does: MAIA Biotechnology Inc is a targeted therapy, immuno-oncology company focused on the development and commercialization of potential first-in-class drugs with novel mechanisms of action that are intended to meaningfully improve and extend the lives of people with cancer.

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