Benzinga - by Lisa Levin, Benzinga Editor.
Although U.S. stocks closed lower on Wednesday following Fed’s rate decision, 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.
Asana
- The Trade: Asana, Inc. (NYSE: ASAN) Director, President, CEO, & Chair Dustin Moskovitz acquired a total of 1,015,000 shares an average price of $18.04. To acquire these shares, it cost around $18.31 million.
- What’s Happening: Asana posted a narrower-than-expected quarterly loss.
- What Asana Does: Asana Inc is a software company. The company provides a platform for work management that helps teams orchestrate work, from daily tasks to cross-functional strategic initiatives.
- The Trade: Calavo Growers, Inc. (NASDAQ: CVGW) Executive Vice President Michael A Browne acquired a total of 1,200 shares at an average price of $28.15. To acquire these shares, it cost around $33,776.
- What’s Happening: Calavo Growers posted upbeat quarterly earnings.
- What Calavo Growers Does: Calavo Growers Inc is in the avocado industry and an expanding provider of value-added fresh food. It sells avocados to a group of supermarket chains, wholesalers, food service and other distributors, under brand labels, as well as private labels.
Hepion Pharmaceuticals
- The Trade: Hepion Pharmaceuticals, Inc. (NASDAQ: HEPA) Director Peter Wijngaard bought a total of 3,000 shares at an average price of $5.61. To acquire these shares, it cost around $16,841.
- What’s Happening: Hepion Pharmaceuticals said Stephen Harrison, M.D., has been appointed as Consultant Medical Director.
- What Hepion Pharmaceuticals Does: Hepion Pharmaceuticals Inc is a biopharmaceutical company that focuses primarily on the development of drug therapy for the treatment of chronic liver diseases.
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