Benzinga - by Avi Kapoor, Benzinga Staff Writer.
Although U.S. stocks closed higher 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.
STAAR Surgical
- The Trade: STAAR Surgical Company (NASDAQ: STAA) 10% owner Neal Bradsher acquired a total of 4,042 shares an average price of $27.11. To acquire these shares, it cost around $109,570.
- What’s Happening: STAAR Surgical issued preliminary fourth-quarter and FY23 net sales guidance above estimates.
- What STAAR Surgical Does: Staar Surgical Co is a manufacturer of lenses. It designs, develops, manufactures, and sells implantable lenses for the eye and delivery systems used to deliver the lenses into the eye.
- The Trade: KalVista Pharmaceuticals, Inc. (NASDAQ: KALV) 10% owner Nimish Shah acquired a total of 137,700 shares at an average price of $12.54. To acquire these shares, it cost around $1.73 million. The company’s Chief Scientific Officer also sold 17,321 shares of the company.
- What’s Happening: KalVista Pharma, last month, announced publication of first oral factor XIIa data in Frontiers in Pharmacology.
- What KalVista Pharmaceuticals Does: KalVista Pharmaceuticals Inc is a pharmaceutical company, which focuses on the discovery, development, and commercialization of small molecule protease inhibitors for a range of diseases.
Avid Bioservices
- The Trade: Avid Bioservices, Inc. (NASDAQ: CDMO) Director Richard B Hancock bought a total of 38,803 shares at an average price of $5.21. To acquire these shares, it cost around $202,036.
- What’s Happening: Avid Bioservices, last month, reported worse-than-expected second-quarter financial results and lowered FY24 revenue guidance below estimates.
- What Avid Bioservices Does: Avid Bioservices Inc is a clinical-stage biopharmaceutical company focused on the development and Current Good Manufacturing Practices (CGMP) of biopharmaceutical products derived from mammalian cell culture.
- The Trade: SecureWorks Corp. (NASDAQ: SCWX) 10% owner Neil Gagnon bought a total of 11,694 shares at an average price of $6.40. The insider spent around $74,816 to buy those shares.
- What’s Happening: SecureWorks, last month, reported better-than-expected third-quarter sales.
- What SecureWorks Does: SecureWorks Corp is a cybersecurity provider of technology-driven solutions singularly focused on protecting its customers by outpacing and outmaneuvering the adversary.
Check This Out: How To Earn $500 A Month From JPMorgan Stock Ahead Of Q4 Earnings Report
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.