Benzinga - by Avi Kapoor, Benzinga Staff Writer.
Although U.S. stocks closed mixed on Thursday, 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.
Dyne Therapeutics
- The Trade: Dyne Therapeutics, Inc. (NASDAQ: DYN) 10% owner Dirk Kersten acquired a total of 1,714,285 shares an average price of $17.50. To acquire these shares, it cost around $30 million.
- What’s Happening: Dyne Therapeutics recently priced $300 million public offering of 17.15 million common stock at $17.50 per share.
- What Dyne Therapeutics Does: Dyne Therapeutics Inc is a bio-technology company focused on providing therapeutics for patients with genetically driven diseases.
- The Trade: EyePoint Pharmaceuticals, Inc. (NASDAQ: EYPT) 10% owner Cormorant Global Healthcare Master Fund LP acquired a total of 855,000 shares at an average price of $19.94. To acquire these shares, it cost around $17.05 million.
- What’s Happening: EyePoint recently said first patient was dosed in Phase 2 VERONA clinical trial of EYP-1901 for diabetic macular edema.
- What EyePoint Pharmaceuticals Does: EyePoint Pharmaceuticals Inc is a pharmaceutical company. It is engaged in developing and commercializing ophthalmic products for the treatment of eye diseases.
Agree Realty
- The Trade: Agree Realty Corporation (NYSE: ADC) Director, Executive Chairman of Board Richard Agree bought a total of 10,500 shares at an average price of $62.57. To acquire these shares, it cost around $656,985.
- What’s Happening: Mizuho recently maintained Agree Realty with a Neutral and raised the price target from $61 to $65.
- What Agree Realty Does: Agree Realty Corporation operates as a fully integrated real estate investment trust mainly focused on the ownership, acquisition, development and management of retail properties net leased to industry-leading tenants.
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