Benzinga - by Avi Kapoor, Benzinga Staff Writer.
Although U.S. stocks closed mostly lower 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.
Harrow
- The Trade: Harrow, Inc. (NASDAQ: HROW) 10% owner Opaleye Management Inc. acquired a total of 50,600 shares an average price of $9.65. To acquire these shares, it cost around $488,290.
- What’s Happening: On March 19, Harrow reported worse-than-expected fourth-quarter financial results.
- What Harrow Does: Harrow Inc is an eyecare pharmaceutical company engaged in the discovery, development, and commercialization of ophthalmic pharmaceutical products for the U.S. market.
- The Trade: Greenwich LifeSciences, Inc. (NASDAQ: GLSI) CEO and CFO Snehal Patel acquired a total of 1,500 shares at an average price of $17.68. To acquire these shares, it cost around $26,520.
- What’s Happening: On March 12, Greenwich LifeSciences announced the initiation of the first clinical sites in Europe in collaboration with GEICAM in Spain.
- What Greenwich LifeSciences Does: Greenwich LifeSciences Inc is a clinical-stage biopharmaceutical company focused on the development of GP2, an immunotherapy to prevent breast cancer recurrences in patients who have previously undergone surgery.
BRT Apartments
- The Trade: BRT Apartments Corp. (NYSE: BRT) 10% owner Gould Investors L P bought a total of 3,471shares at an average price of $16.26. To acquire these shares, it cost around $56,450.
- What’s Happening: On March 12, BRT Apartments posted downbeat quarterly sales.
- What BRT Apartments Does: BRT Apartments Corp is a real estate investment trust company. The company is primarily focused on the ownership, operation, and development of multi-family properties.
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