The Dow Jones closed lower by nearly 350 points 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 penny stocks. For more, check out Benzinga's insider transactions platform.

Beachbody Company

• The Trade: The Beachbody Company, Inc. (NYSE:BODY) 10% owner Carl Daikeler bought a total of 114,811 shares at an average price of $0.70. To acquire these shares, it cost around $80.48 thousand.
• What's Happening: The company, last month, posted upbeat Q3 results.
• What Beachbody Company Does: The Beachbody Co Inc is a holding company involved in offering both streamed and live fitness and nutrition programs as well as various products.

Athira Pharma

• The Trade: Athira Pharma, Inc. (NASDAQ:ATHA) Director Kelly A Romano acquired a total of 30,000 shares at an average price of $3.29. The insider spent around $98.7 thousand to buy those shares.
• What's Happening: Athira Pharma presented preclinical data supporting therapeutic potential of ATH-1105 in ALS at the 33rd International Symposium on ALS/MND.
• What Athira Pharma Does: Athira Pharma Inc is a biotechnology company focused on developing small molecules to restore neuronal health and stop neurodegeneration.

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PEDEVCO

• The Trade: PEDEVCO Corp. (NYSE:PED) 10% owner SGK 2018 REVOCABLE TRUST acquired a total of 76,746 shares at an average price of $1.10. To acquire these shares, it cost around $84.04 thousand.
• What's Happening: Pedevco, last month, posted Q3 EPS of $0.01.
• What PEDEVCO Does: PEDEVCO Corp is an energy company.