Although US stocks closed higher 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.
Gossamer Bio
- The Trade: Gossamer Bio, Inc. (NASDAQ: GOSS) President and CEO Faheem Hasnain acquired a total of 138,696 shares at an average price of $7.21. To acquire these shares, it cost around $1 million.
- What’s Happening: Gossamer Bio recently announced $120 million in private placement financing.
- What Gossamer Bio Does: Gossamer Bio Inc is a clinical-stage biopharmaceutical company. It focuses on discovering, acquiring, developing, and commercializing therapeutics in the disease areas of immunology, inflammation, and oncology.
- The Trade: Delta Air Lines, Inc. (NYSE: DAL) Director David S Taylor acquired a total of 10,000 shares at an average price of $29.31. To acquire these shares, it cost around $293.1 thousand.
- What’s Happening: Delta Air Lines announced order for 100 737-10 aircraft with option for 30 more.
- What Delta Air Lines Does: Atlanta-based Delta Air Lines is one of the world's largest airlines, with a network of over 300 destinations in more than 50 countries.
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Owens & Minor
- The Trade: Owens & Minor, Inc. (NYSE: OMI) Director Robert J Henkel bought a total of 1,000 shares at an average price of $31.76. To acquire these shares, it cost around $31.76 thousand.
- What’s Happening: The company posted upbeat earnings in May.
- What Owens & Minor Does: Owens & Minor distributes consumable medical supplies to a variety of providers. The company operates in two segments that are Global products and Global Solutions.
Read at Benzinga