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.

The Trade: Know Labs, Inc. (OTC: KNWN) Director Ronald P Erickson acquired a total of 5000 shares at an average price of $2.53. To acquire these shares, it cost $12,650.00.

What’s Happening: The company’s shares jumped more than 10% over the previous month.

What Know Labs Does: Know Labs is focused on the development, marketing, and sales of proprietary technologies that are capable of uniquely identifying or authenticating almost any substance or material using electromagnetic energy to record, detect, and identify the unique signature of the substance or material known as Bio-RFID and ChromaID technologies.

The Trade: LiveXLive Media, Inc. (NASDAQ: LIVX) CEO and Chairman Robert S Ellin acquired a total of 10000 shares shares at an average price of $3.25. The insider spent $32,503.00 to buy those shares.

What’s Happening: LiveXLive Media plans to change its name to "LiveOne, Inc" and assume a new Nasdaq stock symbol "LVO" in the coming weeks.

What LiveXLive Media Does: LiveXLive Media is the premium internet networks devoted to live music and music-related video content.

The Trade: Cidara Therapeutics, Inc. (NASDAQ: CDTX) Director Timothy R Franson acquired a total of 7000 shares at an average price of $2.12. To acquire these shares, it cost $14,822.50..

What’s Happening: Cidara Therapeutics and Mundipharma, last month, reported completion of enrollment in Phase 3 ReSTORE trial of rezafungin for the treatment of candidemia and invasive candidiasis.

What Cidara Therapeutics Does: Cidara Therapeutics is a biotechnology company. It is focused on the discovery, development, and commercialization of novel anti-infectives for the treatment and prevention of diseases.

The Trade: Soleno Therapeutics, Inc. (NASDAQ: SLNO) Chief Financial Officer James MacKaness acquired a total of 6060 shares at an average price of $1.65. To acquire these shares, it cost $9,999.00.

What’s Happening: Soleno Therapeutics recently announced top-line results from its ongoing open-label extension study evaluating DCCR (Diazoxide Choline) Extended-Release tablets for Prader-Willi syndrome (PWS).

What Soleno Therapeutics Does: Soleno Therapeutics is focused on the development and commercialization of novel therapeutics for the treatment of rare diseases.

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