Although the Dow Jones dropped more than 200 points on Tuesday, 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.
Kymera Therapeutics
- The Trade: Kymera Therapeutics, Inc. (NASDAQ: KYMR) Director Mark Lampert acquired a total of 289,426 shares at at an average price of $14.34. To acquire these shares, it cost around $4.15 million.
- What’s Happening: Kymera Therapeutics received FDA orphan drug designation for treatment of peripheral T-cell Lymphoma.
- What Kymera Therapeutics Does: Kymera Therapeutics Inc is a biotechnology company pioneering a transformative new approach to treating previously untreatable diseases.
- The Trade: Fresh Del Monte Produce Inc. (NYSE: FDP) Chairman and CEO Mohammad Abu-Ghazaleh acquired a total of 20,000 shares at an average price of $25.29. To acquire these shares, it cost around $505.75 thousand.
- What’s Happening: The company, last month, posted upbeat quarterly sales.
- What Fresh Del Monte Produce Does: Fresh Del Monte Produce Inc produces, markets, and distributes fresh fruit and vegetables internationally. Additionally, it prepares and distributes juices, beverages, and snacks.
Also check this: Executives Sell Around $96M Of 5 Stocks
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Insight Enterprises
- The Trade: Insight Enterprises, Inc. (NASDAQ: NSIT) Director Valueact Holdings GP Llc bought a total of 80,000 shares at an average price of $98.63. To acquire these shares, it cost around $7.89 million.
- What’s Happening: The company, last month, posted upbeat quarterly results.
- What Insight Enterprises Does: Insight Enterprises Inc is a Fortune 500 global IT provider primarily engaged in helping businesses of all sizes, large enterprises, governments, schools, and health care organizations.
Read at Benzinga