Benzinga - Although US stocks closed mixed on Friday, 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.
PayPal
- The Trade: PayPal Holdings Inc (NASDAQ: PYPL) President and CEO Daniel H Schulman acquired a total of 26,065 shares an average price of $76.17. To acquire these shares, it cost around $1.99 million.
- What’s Happening: PayPal reported worse-than-expected Q4 sales results.
- What PayPal Does: PayPal was spun off from eBay in 2015 and provides electronic payment solutions to merchants and consumers, with a focus on online transactions.
Intevac
- The Trade: Intevac, Inc. (NASDAQ: IVAC) Director Kevin Barber acquired a total of 5,000 shares at an average price of $7.43. To acquire these shares, it cost around $37.15 thousand.
- What’s Happening: The company posted upbeat quarterly results.
- What Intevac Does: Intevac Inc designs and develops high-productivity, thin-film processing systems.
Recursion Pharmaceuticals
- The Trade: Recursion Pharmaceuticals Inc (NASDAQ: RXRX) 10% owner Mamoura Diversified Global Holding PJSC bought a total of 42,682 shares at an average price of $7.90. To acquire these shares, it cost around $337.04 thousand.
- What’s Happening: Recursion Pharmaceuticals, during November, posted a Q3 loss of $0.35 per share.
- What Recursion Pharmaceuticals Does: Recursion Pharmaceuticals Inc is a clinical-stage biotechnology company.
Disc Medicine
- The Trade: Disc Medicine Inc (NASDAQ: IRON) Director Mona Ashiya bought a total 108,696 shares at an average price of $23.00. The insider spent around $2.5 million to buy those shares.
- What’s Happening: Disc Medicine initiated Phase 1b/2 clinical study of DISC-0974 in adults with non-dialysis dependent chronic kidney disease (NDD-CKD) and anemia.
- What Disc Medicine Does: Disc Medicine Inc is a clinical-stage biopharmaceutical company that is dedicated to transforming the lives of patients with hematologic disorders.