Benzinga - by Lisa Levin, Benzinga Editor.
Although U.S. stocks closed lower on Thursday, 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.
Aura Biosciences
- The Trade: Aura Biosciences, Inc. (NASDAQ: AURA) 10% owner David Goel acquired a total of 1,560,000 shares an average price of $9.00. To acquire these shares, it cost around $14.04 million. The company’s Director also bought 199,601 shares.
- What’s Happening: Aura Biosciences posted a narrower-than-expected loss for the third quarter.
- What Aura Biosciences Does: Aura Biosciences Inc is a clinical-stage oncology company developing a novel technology platform based on virus-like drug conjugates to target and destroy cancer cells selectively while activating the immune system to create long-lasting anti-tumor immunity.
- Mastercard
- The Trade: Mastercard Incorporated (NYSE: MA) Director Richard K Davis acquired a total of 1,000 shares at an average price of $390.96. To acquire these shares, it cost around $390,960.
- What’s Happening: Mastercard reported better-than-expected earnings for its third quarter.
- What Mastercard Does: Mastercard is the second-largest payment processor in the world, having processed close to over $8 trillion in transactions during 2022.
STAAR Surgical
- The Trade: STAAR Surgical Company (NASDAQ: STAA) 10% owner Broadwood Capital Inc bought a total of 289,140 shares at an average price of $33.42. To acquire these shares, it cost around $9.66 million.
- What’s Happening: Staar Surgical reported better-than-expected earnings for its third quarter.
- 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: Energy Transfer LP (NYSE: ET) Executive Chairman Kelcy Warren bought a total of 1,000,000 shares at an average price of $13.33. The insider spent around $13.33 million to buy those shares. The company’s EVP also bought 10,000 shares.
- What’s Happening: Energy Transfer posted downbeat earnings for the third quarter.
- What Energy Transfer Does: Energy Transfer owns a large platform of crude oil, natural gas, and natural gas liquid assets primarily in Texas and the U.S. midcontinent region.
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