Benzinga - Although US stocks closed mixed on Tuesday, 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.
Phathom Pharmaceuticals
- The Trade: Phathom Pharmaceuticals, Inc. (NASDAQ: PHAT) Chief Operating Officer Azmi Nabulsi acquired a total of 10,000 shares an average price of $8.26. To acquire these shares, it cost around $82.6 thousand. The company’s Director also purchased the company’s shares.
- What’s Happening: Phathom Pharmaceuticals announced a regulatory update, noting "favorable feedback following meeting with the FDA allows for planned resubmission of erosive esophagitis new drug application this quarter."
- What Phathom Pharmaceuticals Does: Phathom Pharmaceuticals Inc operates as a clinical-stage biopharmaceutical company. The firm is focused on developing and commercializing novel treatments for gastrointestinal, or GI, diseases.
- The Trade: Strawberry Fields REIT, Inc. (NYSE: STRW) CEO Moishe Gubin acquired a total of 3,500 shares at an average price of $5.90. To acquire these shares, it cost around $20.65 thousand.
- What’s Happening: Strawberry Fields REIT recently announced 2022 year-end operating results.
- What Strawberry Fields REIT Does: Strawberry Fields REIT Inc is a self-managed and self-administered company that specializes in the acquisition, ownership and triple-net leasing of skilled nursing facilities and other post-acute healthcare properties.
American Strategic Investment
- The Trade: American Strategic Investment Co. (NYSE: NYC) 10% owner New York City Advisors LLC bought a total of 3,926 shares at an average price of $11.56. To acquire these shares, it cost around $45.4 thousand.
- What’s Happening: New York City REIT recently posted Q4 core FFO of $0.11.
- What American Strategic Investment Does: American Strategic Investment Co formerly New York City REIT Inc is formed to invest its assets in office properties located in the five boroughs of New York City, with a focus on Manhattan.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.