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.
Quanterix
- The Trade: Quanterix Corporation (NASDAQ: QTRX) President and CEO Masoud Toloue acquired a total of 105,000 shares at an average price of $10.43. To acquire these shares, it cost around $1.1 million.
- What’s Happening: Canaccord Genuity recently downgraded Quanterix from Buy to Hold.
- What Quanterix Does: Quanterix Corp is a life sciences company. It focuses on developing an ultra-sensitive digital immunoassay platform that advances precision health for life sciences research and diagnostics.
- The Trade: Keurig Dr Pepper Inc. (NYSE: KDP) Chief Supply Chain Officer Anthony Maurice Milikin acquired a total 12,979 shares at an average price of $39.85. To acquire these shares, it cost around $517.21 thousand.
- What’s Happening: Keurig Dr Pepper, last month, reported better-than-expected Q2 sales.
- What Keurig Dr Pepper Does: Keurig Dr Pepper, the product of a 2018 merger between Dr Pepper Snapple and Keurig Green Mountain, is the third-largest nonalcoholic beverage company in North America.
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Cassava Sciences
- The Trade: Cassava Sciences, Inc (NASDAQ: SAVA) Director Sanford Robertson bought a total of 100,000 shares at an average price of $20.69. To acquire these shares, it cost around $2.07 million.
- What’s Happening: The company’s stock jumped around 18% following the insider buying news. Cassava Sciences recently posted a Q2 loss of $0.48 per share.
- What Cassava Sciences Does: Cassava Sciences Inc is a clinical-stage biotechnology company engaged in developing a scientific approach for the treatment and detection of Alzheimer's disease.
- The Trade: TELA Bio, Inc. (NASDAQ: TELA) 10% owner Opaleye Management Inc bought a total of 315,000 shares at an average price of $8.00. The insider spent around $2.52 million to buy those shares.
- What’s Happening: TELA Bio recently reported a proposed public offering of common stock.
- What TELA Bio Does: TELA Bio Inc is a United States-based medical technology company.
Read at Benzinga