Over $7M Bet On This Consumer Defensive Stock? Check Out These 4 Penny Stocks Insiders Are Buying

The Dow Jones closed lower by more than 250 points on Wednesday. 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.

Gran Tierra Energy

• The Trade: Gran Tierra Energy Inc. GTE CFO Ryan Ellson acquired a total of 50,000 shares an average price of $0.71. To acquire these shares, it cost around $35.5 thousand.
• What’s Happening: Gran Tierra Energy reported a decline in Q4 earnings.
• What Gran Tierra Energy Does: Gran Tierra Energy Inc is an independent energy company. It is engaged in the acquisition, exploration, development, and production of oil and gas properties.

Harvard Bioscience

• The Trade: Harvard Bioscience, Inc. HBIO CEO James Green acquired a total 40,000 shares at an average price of $2.64. The insider spent around $105.4 thousand to buy those shares.
• What’s Happening: Harvard Bioscience posted better-than-expected Q4 earnings.
• What Harvard Bioscience Does: Harvard Bioscience Inc is a developer, manufacturer, and seller of technologies, specialized products and services that enable fundamental research, discovery, and pre-clinical testing for drug development.

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Whole Earth Brands

• The Trade: Whole Earth Brands, Inc. FREE 10% owner Sababa Holdings Free LLC acquired a total of 2,600,000 shares at an average price of $2.93. To acquire these shares, it cost around $7.63 million.
• What’s Happening: Whole Earth Brands reported better-than-expected Q4 sales results.
• What Whole Earth Brands Does: Whole Earth Brands Inc is engaged in the manufacturing of zero/low sugar and calorie sweeteners as well as reduced-sugar products.

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Zevra Therapeutics

• The Trade: Zevra Therapeutics, Inc. ZVRA CCO & EVP, Bus. Development Joshua Schafer acquired a total of 2,000 shares at an average price of $4.61. The insider spent $9.22 thousand to buy those shares.
• What’s Happening: Zevra Therapeutics reported worse-than-expected Q4 sales results.
• What Zevra Therapeutics Does: Zevra Therapeutics Inc is a rare disease company melding science, data and patient needs to create transformational therapies for diseases with limited or no treatment options.