Gold futures traded lower this morning on Tuesday. Investors, meanwhile, focused on some notable insider trades.

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 stocks under $2.

OncoCyte

• The Trade: OncoCyte Corporation (OCX) 10% owner Efrem Kamen acquired a total of 5,931,707 shares at an average price of $1.33. The insider spent around $7.89 million to buy those shares.
• What’s Happening: Oncocyte recently reported pricing of registered direct offering of 11.765 million shares.
• What OncoCyte Does: OncoCyte Corp focuses on the discovery, development, and commercialization of novel, non-invasive, liquid biopsy diagnostics for the early detection of cancer.

Athena Gold

• The Trade: Athena Gold Corporation (AHNR) 10% owner John D Gibbs acquired a total of 1,181,250 shares at an average price of $0.06. To acquire these shares, it cost $74.42 thousand.
• What’s Happening: Athena Gold recently reported the successful completion of its reverse circulation drill program at its Excelsior Springs project in Esmeralda County, Nevada.
• What Athena Gold Does: Athena Gold Corp is focused on the exploration and development of precious metals in the Western United States.