$10 Million Bet On Biodesix? Check Out These 3 Penny Stocks Insiders Are Buying

The Nasdaq Composite closed lower by more than 100 points on Monday. 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.3

LiveOne

• The Trade: LiveOne, Inc. LVO CEO and Chairman Robert S Ellin bought a total of 35,000 shares at an average price of $0.67. To acquire these shares, it cost around $23.5 thousand.
• What’s Happening: HC Wainwright & Co. maintained LiveOne with a Buy and lowered the price target from $4 to $3..
• What LiveOne Does: LiveOne Inc, formerly LiveXLive Media Inc is the premium internet networks devoted to live music and music-related video content.

electroCore

• The Trade: electroCore, Inc. ECOR Director Joseph Errico acquired a total of 100,000 shares at at an average price of $0.31. The insider spent around $31.24 thousand to buy those shares.
• What’s Happening: ElectroCore recently reported worse-than-expected Q3 EPS and sales results.
• What electroCore Does: electroCore Inc is a commercial stage bioelectronic medicine company with a platform for non-invasive vagus nerve stimulation therapy initially focused on neurology.

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Biodesix

• The Trade: Biodesix, Inc. BDSX 10% owner Jack Schuler acquired a total of 8,695,652 shares at an average price of $1.15. To acquire these shares, it cost around $10 million.
• What’s Happening: Biodesix recently announced pricing of $35.1 million upsized public offering of 30.5 million shares of common stock at a price of $1.15 per share.
• What Biodesix Does: Biodesix, incorporated in 2005, operates as a data-driven diagnostic solutions company in the United States.