The Dow Jones closed higher 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.

VolitionRx

• The Trade: VolitionRx Limited (NYSE:VNRX) Director Guy Archibald Innes acquired a total of 20,000 shares an average price of $0.71. To acquire these shares, it cost around $14,200.
• What’s Happening: EF Hutton reiterated VolitionRX with a Buy and maintained a $4.5 price target.
• What VolitionRx Does: VolitionRX Ltd is a United states based epigenetics company that applies its Nucleosomics platform through its subsidiaries to develop simple, easy-to-use, cost effective blood tests to help diagnose and monitor a range of life-altering diseases including some cancers and diseases associated with NETosis such as sepsis and COVID-19.

KORE Group Holdings

• The Trade: KORE Group Holdings, Inc. (NYSE:KORE) Director, Pres., Chief Executive Officer Romil Bahl acquired a total of 12,514 shares at an average price of $0.62. To acquire these shares, it cost around $7,708.
• What’s Happening: KORE Group reported worse-than-expected third-quarter financial results and issued FY23 revenue guidance below estimates.
• What KORE Group Holdings Does: Kore Group Holdings Inc provides Internet of Things (IoT) solutions and services. In addition to providing critical services to customers globally, it enables them to manage, deploy, and scale their IoT applications and use cases.

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IO Biotech

• The Trade: IO Biotech, Inc. (NASDAQ:IOBT) Chief Accounting Officer Brian Burkavage acquired a total of 10,000 shares at an average price of $1.01. The insider spent around $10,125 to buy those shares.
• What’s Happening: IO Biotech posted a narrower-than-expected quarterly loss.
• What IO Biotech Does: IO Biotech Inc is a clinical-stage biopharmaceutical company developing novel, immune-modulating cancer vaccines based on T-win technology platform.

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