Benzinga - by Avi Kapoor, Benzinga Staff Writer.
Although U.S. stocks closed higher on Monday, 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.
KalVista Pharmaceuticals
- The Trade: KalVista Pharmaceuticals, Inc. (NASDAQ: KALV) 10% owner Nimish Shah acquired a total of 91,804 shares an average price of $14.05. To acquire these shares, it cost around $1.29 million.
- 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.
- The Trade: Nuveen Churchill Direct Lending Corp. (NYSE: NCDL) 10% owner America of Association Annuity Insurance Teachers acquired a total of 1,662,050 shares at an average price of $18.05. To acquire these shares, it cost around $30 million.
- What’s Happening: The company recently priced its IPO at $18.05 per share.
- What Nuveen Churchill Direct Lending Does: Nuveen Churchill Direct Lending Corp is a specialty finance company focused primarily on investing in senior secured loans to private equity-owned U.S. middle market companies.
FB Financial
- The Trade: FB Financial Corporation (NYSE: FBK) Director Raja Jubran bought a total of 14,808 shares at an average price of $26.97. To acquire these shares, it cost around $399,416.
- What’s Happening: Hovde Group analyst Brett Rabatin recently downgraded FB Financial from Outperform to Market Perform and announced a $40 price target.
- What FB Financial Does: FB Financial Corp is a bank holding company. The company through its wholly-owned bank subsidiary provides commercial and consumer banking services to clients in select markets in Tennessee, North Alabama, and North Georgia.
Check This Out: Alphabet, Microsoft And 3 Stocks To Watch Heading Into Tuesday
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.