Benzinga - Although US stocks closed lower 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.
Appian
- The Trade: Appian Corporation (NASDAQ: APPN) 10% owner Colin Moran acquired a total of 320,000 shares an average price of $37.16. To acquire these shares, it cost around $11.89 million.
- What’s Happening: Keybanc maintained Appian with an Overweight and lowered the price target from $55 to $46.
- What Appian Does: Appian Corp provides a low-code software development platform as a service that enables organizations to rapidly develop powerful and unique applications.
Keurig Dr Pepper
- The Trade: Keurig Dr Pepper Inc. (NASDAQ: KDP) Chief Financial Officer Shekhar Sudhanshu Priyadarshi acquired a total of 10,000 shares at an average price of $35.00. To acquire these shares, it cost around $350 thousand.
- What’s Happening: Wells Fargo recently maintained Keurig Dr Pepper with an Overweight and lowered the price target from $42 to $40.
- What Keurig Dr Pepper Does: Keurig Dr Pepper, the product of a 2018 merger between Dr Pepper Snapple and Keurig Green Mountain, is the third-largest nonalcoholic beverage company in North America.
PepGen
- The Trade: PepGen Inc. (NASDAQ: PEPG) Director Laurie Keating bought a total of 4,166 shares at an average price of $12.00. To acquire these shares, it cost around $49.99 thousand.
- What’s Happening: PepGen, last month, announced IND-enabling preclinical data supporting progression of PGN-EDODM1 into clinical studies.
- What PepGen Does: PepGen Inc is a clinical-stage biotechnology company advancing the next generation of oligonucleotide therapeutics with the goal of transforming the treatment of severe neuromuscular and neurologic diseases.
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