Benzinga - by Avi Kapoor, Benzinga Staff Writer.
Although U.S. stocks closed lower on Wednesday, 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.
EyePoint Pharmaceuticals
- The Trade: EyePoint Pharmaceuticals, Inc. (NASDAQ: EYPT) 10% owner Cormorant Global Healthcare Master Fund LP acquired a total of 1,919,057 shares an average price of $21.82. To acquire these shares, it cost around $41.87 million. The company’s Executive Vice Chair also sold 20,000 shares of the company.
- What’s Happening: EyePoint Pharmaceuticals priced its upsized public offering of 11,764,706 common shares at $17 per share.
- 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.
- The Trade: Dave Inc. (NASDAQ: DAVE) Director Yadin Rozov acquired a total of 12,941 shares at an average price of $6.40. To acquire these shares, it cost around $82,760.
- What’s Happening: On Nov. 7, Dave posted upbeat quarterly results.
- What Dave Does: Dave Inc is engaged in offering banking app that offers its customers banking, financial insights, overdraft protection, building credit, and finding side gigs.
Pulse Biosciences
- The Trade: Pulse Biosciences, Inc. (NASDAQ: PLSE) Director Robert Duggan bought a total of 67,347 shares at an average price of $10.55. To acquire these shares, it cost around $710,359.
- What’s Happening: On Nov. 27, Pulse Biosciences said it has received all regulatory approvals and it has substantially completed all required activities to commence its planned catheter ablation feasibility study.
- What Pulse Biosciences Does: Pulse Biosciences Inc is a novel bioelectric medicine company committed to health innovation using its patented Nano-Pulse Stimulation technology, a revolutionary energy modality that delivers nanosecond-duration pulses of electrical energy, each less than a millionth of a second long, to non-thermally clear targeted cells while sparing adjacent noncellular tissue.
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