Benzinga - by Avi Kapoor, Benzinga Staff Writer.
Although U.S. stocks closed mixed 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.
Solid Biosciences
- The Trade: Solid Biosciences Inc. (NASDAQ: SLDB) Director Joseph Edelman acquired a total of 3,410,713 shares an average price of $5.53. To acquire these shares, it cost around $18.86 million. The company’s 10% owner RA Capital Nexus Fund, L.P also bought 904,160 shares at an average price of $5.53.
- What’s Happening: Solid Biosciences entered into a securities purchase agreement with a select group of institutional accredited investors for an approximately $108.9 million private placement.
- What Solid Biosciences Does: Solid Biosciences Inc is a life science company. It is engaged in the manufacturing of specialty and generic drugs.
- The Trade: Champions Oncology, Inc. (NASDAQ: CSBR) Director Daniel Mendelson acquired a total of 2,000 shares at an average price of $6.27. To acquire these shares, it cost around $12,540.
- What’s Happening: Champions Oncology, last month, posted a loss for the second quarter.
- What Champions Oncology Does: Champions Oncology Inc is a us-based company which is engaged in the development and sale of advanced technology solutions and products to personalize the development and use of oncology drugs.
AMREP
- The Trade: AMREP Corporation (NYSE: AXR) 10% owner Rainey Lancaster bought a total of 6,800 shares at an average price of $21.93. To acquire these shares, it cost around $149,120.
- What’s Happening: Amrep, last month, reported a decline in quarterly sales.
- What AMREP Does: Amrep Corp through its subsidiaries is engaged in the Real estate business.
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