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.

CASI Pharmaceuticals

The Trade: CASI Pharmaceuticals, Inc. (NASDAQ:CASI) Chairman & CEO Wei-Wu He acquired a total of 480000 shares at an average price of $1.28. To acquire these shares, it cost $613,800.00.

What’s Happening: CASI Pharmaceuticals, earlier during the month, reported results for the second quarter.

What CASI Pharmaceuticals Does: CASI Pharmaceuticals Inc is a biopharmaceutical company that focuses on commercializing innovative therapeutics and pharmaceutical products.

ServiceSource International

The Trade: ServiceSource International, Inc. (NASDAQ:SREV) 10% owner Edenbrook Capital Llc, Jonathan Brolin acquired a total of 25000 shares shares at an average price of $1.51. The insider spent $37,750.00 to buy those shares.

What’s Happening: ServiceSource, last month, reported a Q2 loss of $0.01 per share.

What ServiceSource International Does: ServiceSource International is a provider of customer and revenue lifecycle management solutions.

Marchex

The Trade: Marchex, Inc. (NASDAQ:MCHX) 10% owner Edenbrook Capital Llc, Edenbrook Long Only Value Fund Lp, Jonathan Brolin acquired a total of 17849 shares at an average price of $2.90. To acquire these shares, it cost $51,685.75.

What’s Happening: Marchex, earlier during the month, posted upbeat results for the second quarter.

What Marchex Does: Marchex is a conversational analytics and solutions company that helps businesses connect, drive, measure, convert callers into customers, and connects the voice of the customer to their business.

Qualigen Therapeutics

The Trade: Qualigen Therapeutics, Inc. (NASDAQ:QLGN) Director Kurt H Kruger acquired a total of 8000 shares shares at an average price of 1.23. The insider spent $9,800.00 to buy those shares.

What’s Happening: Qualigen Therapeutics, last week, said it would pivot away from development of QN-165 for COVID-19 and refocus on its oncology pipeline, citing a 'crowded' COVID-19 therapeutic landscape.

What Qualigen Therapeutics Does: Qualigen Therapeutics Inc is a biotechnology company focused on the development and commercialization of novel therapeutic products for the treatment of cancer and infectious diseases using nanoparticle coating technology.