Benzinga - Although US stocks closed lower on Wednesday following Fed’s rate decision, there were a few notable insider trades.
When insiders purchase shares, it indicates their confidence in the company's prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Below is a look at a few recent notable insider purchases. For more, check out Benzinga's insider transactions platform.
NanoString Technologies
- The Trade: NanoString Technologies, Inc. (NASDAQ: NSTG) President and CEO Bradley Gray acquired a total of 67,661 shares an average price of $7.38. To acquire these shares, it cost around $499.37 thousand.
- What’s Happening: NanoString and Abcam, last month, expanded collaboration to advance spatial multiomics research.
- What NanoString Technologies Does: NanoString Technologies Inc is engaged in the development, manufacturing and commercialization of instruments, consumables, and services for efficiently profiling the activity of hundreds of genes and proteins simultaneously from a single tissue sample.
Dyne Therapeutics
- The Trade: Dyne Therapeutics, Inc. (NASDAQ: DYN) Director Jason Rhodes acquired a total of 934,581 shares at an average price of $10.70. To acquire these shares, it cost around $10 million.
- What’s Happening: JP Morgan recently maintained Dyne Therapeutics with an Overweight and lowered the price target from $24 to $18.
- What Dyne Therapeutics Does: Dyne Therapeutics Inc is a bio-technology company focused on providing therapeutics for patients with genetically driven diseases.
3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or
remove ads
.
Also check this: Investor Optimism Declines Slightly Following Fed's Rate Hike
Global Payments
- The Trade: Global Payments Inc. (NYSE: GPN) Director Robert Baldwin Jr bought a total of 3,400 shares at an average price of $98.62. To acquire these shares, it cost around $335.31 thousand.
- What’s Happening: Mizuho recently maintained Global Payments with a Neutral and lowered the price target from $132 to $115.
- What Global Payments Does: Global Payments is a leading provider of payment processing and software solutions and focuses on serving small and midsize merchants.
Harrow Health
- The Trade: Harrow Health, Inc. (NASDAQ: HROW) 10% owner Opaleye Management Inc bought a total 431,183 shares at an average price of $10.52. The insider spent around $4.54 million to buy those shares.
- What’s Happening: Harrow Health entered an agreement to acquire exclusive U.S. commercial rights to five FDA approved ophthalmic products from Novartis group for $130 million.
- What Harrow Health Does: Harrow Health Inc is an ophthalmology-focused pharmaceutical company.