Bright Health And 2 Other Stocks Under $1 Insiders Are Aggressively Buying

The Nasdaq 100 index closed lower by over 100 points on Friday. 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 penny stocks. For more, check out Benzinga's insider transactions platform.

Bright Health Group

• The Trade: Bright Health Group, Inc. BHG Director Jeffrey R Immelt bought a total of 400,000 shares at an average price of $0.62. To acquire these shares, it cost around $248 thousand.
• What’s Happening: Bright Health Group recently received continued listing standard notice from NYSE.
• What Bright Health Group Does: Bright Health Group Inc is a healthcare company. It consists of two reportable segments: NeueHealth and Bright HealthCare.

Lixte Biotechnology

• The Trade: Lixte Biotechnology Holdings, Inc. LIXT Director Rene Bernards acquired a total of 15,000 shares at an average price of $0.51. The insider spent around $7.65 thousand to buy those shares.
• What’s Happening: The company’s stock gained around 7% over the past month.
• What Lixte Biotechnology Does: Lixte Biotech Holdings Inc is a drug discovery company that uses biomarker technology to identify enzyme targets associated with serious common diseases and then designs novel compounds to attack those targets.

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Trinity Place

• The Trade: Trinity Place Holdings Inc. TPHS President and CEO Matthew Messinger acquired a total of 1,450 shares at an average price of $0.77. To acquire these shares, it cost around $1.11 thousand.
• What’s Happening: The company’s shares have tumbled over 60% since the start of the year.
• What Trinity Place Does: Trinity Place Holdings Inc is a real estate holding, investment, and asset management company.