Benzinga - Although US stocks closed mixed on Monday, 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.
B. Riley Financial
- The Trade: B. Riley Financial, Inc. (NASDAQ: RILY) Director Randall Paulson acquired a total of 20,000 shares an average price of $37.22. To acquire these shares, it cost around $744.35 thousand.
- What’s Happening: B. Riley Financial sees lower operating adjusted EBITDA for FY22.
- What B. Riley Financial Does: B. Riley Financial Inc is a diversified financial services company
Scholar Rock Holding
- The Trade: Scholar Rock Holding Corporation (NASDAQ: SRRK) 10% owner Invus Public Equities Advisors, LLC acquired a total of 48,774 shares at an average price of $9.33. To acquire these shares, it cost around $455.09 thousand.
- What’s Happening: Scholar Rock Holding, during November, posted a Q3 loss of $0.55 per share.
- What Scholar Rock Holding Does: Scholar Rock Holding Corp is a biopharmaceutical company. It is engaged in the discovery and development of innovative medicines for the treatment of serious diseases including neuromuscular disorders, cancer, fibrosis, and anemia.
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Heska
- The Trade: Heska Corporation (NASDAQ: HSKA) CEO and President Kevin S Wilson bought a total of 11,018 shares at an average price of $58.62. To acquire these shares, it cost around $645.93 thousand.
- What’s Happening: Morgan Stanley (NYSE:MS) recently downgraded Heska from Equal-Weight to Underweight and announced a $58 price target.
- What Heska Does: Heska Corp is engaged in developing, manufacturing, marketing, selling & supporting veterinary products.
Merrimack Pharmaceuticals
- The Trade: Merrimack Pharmaceuticals, Inc. (NASDAQ: MACK) Director Ana Radeljevic bought a total 4,156 shares at an average price of $12.03. The insider spent around $50 thousand to buy those shares.
- What’s Happening: The company’s stock jumped 102% over the past six months.
- What Merrimack Pharmaceuticals Does: Merrimack Pharmaceuticals Inc is a biotechnology company that discovers, develops, and commercializes innovative medicines that consist of novel therapeutics paired with diagnostics to treat cancer.