Although US stocks closed slightly 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.
United Airlines
- The Trade: United Airlines Holdings, Inc. (NASDAQ: UAL) Director Edward Shapiro acquired a total of 50,000 shares at at an average price of $44.71. To acquire these shares, it cost around $2.24 million.
- What’s Happening: United Airlines CEO recently said recovery in business travel demand has a long way to go.
- What United Airlines Does: United Airlines is a major U.S. network carrier. United's hubs include San Francisco, Chicago, Houston, Denver, Los Angeles, New York/Newark, and Washington, D.C.
- The Trade: Repare Therapeutics Inc. (NASDAQ: RPTX) 10% owner Mark Lampert acquired a total of 1,836,958 shares at an average price of $11.90. To acquire these shares, it cost around $21.86 million.
- What’s Happening: Repare Therapeutics recently announced it has entered into a worldwide license and collaboration agreement with Roche for the development and commercialization of camonsertib.
- What Repare Therapeutics Does: Repare Therapeutics Inc is a precision oncology company engaged in the discovery and development of novel therapeutics.
Also check this: HP And 3 Other Stocks Insiders Are Selling
NetApp
- The Trade: NetApp, Inc. (NASDAQ: NTAP) EVP Finance & Operations, CFO Michael J Berry bought a total of 5,000 shares at an average price of $72.04. To acquire these shares, it cost around $360.22 thousand.
- What’s Happening: NetApp recently reported better-than-expected Q4 EPS results.
- What NetApp Does: NetApp is a leading provider of enterprise data management and storage solutions. The company's three operating business units are products, software maintenance, and hardware maintenance.
- The Trade: Kodiak Sciences Inc. (NASDAQ: KOD) Director Felix Baker bought a total of 572,349 shares at an average price of $7.77. The insider spent around $4.45 million to buy those shares.
- What’s Happening: Kodiak Sciences, last month, posted a Q1 loss of $1.83 per share.
- What Kodiak Sciences Does: Kodiak Sciences Inc is a biopharmaceutical company specializing in novel therapeutics to treat high-prevalence retinal diseases.
Read at Benzinga