Several notable insider transactions were recently observed in penny stocks. Sherwood Revocable Trust, a 10% owner of Barnwell Industries, purchased a significant number of shares at $2.80 per share. The company is involved in the acquisition, development, production, and sale of oil and natural gas. Meanwhile, Mobile Infrastructure Corporation’s CEO, Manuel Chavez III, acquired shares at $3.39 each. The company is expected to release its first-quarter 2024 earnings results on May 15, 2024. Furthermore, Galectin Therapeutics Inc.’s Director, Kevin D Freeman, bought shares at an average price of $2.98 per share. HC Wainwright & Co. analyst recently reiterated a ‘Buy’ rating for Galectin Therapeutics with a price target of $11.