Over $65M Bet On This Healthcare Stock? Check Out These 3 Stocks Insiders Are Buying

Although US stocks closed mixed on Wednesday, 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.

Pulse Biosciences

• The Trade: Pulse Biosciences, Inc. (NASDAQ:PLSE) Director Robert W Duggan acquired a total 10,022,937 shares an average price of $6.51. To acquire these shares, it cost around $65.25 million.
• What’s Happening: Pulse Biosciences announced a $65 million private placement priced at $6.51 per share..
• What Pulse Biosciences Does: Pulse Biosciences Inc is a novel bioelectric medicine company committed to health innovation using its patented Nano-Pulse Stimulation technology, a revolutionary energy modality that delivers nanosecond-duration pulses of electrical energy, each less than a millionth of a second long, to non-thermally clear targeted cells while sparing adjacent noncellular tissue.

Reneo Pharmaceuticals

• The Trade: Reneo Pharmaceuticals, Inc. (NASDAQ:RPHM) Director Niall Odonnell acquired a total of 125,000 shares at an average price of $8.00. To acquire these shares, it cost around $1 million.
• What’s Happening: Reneo Pharmaceuticals priced its 6.8 million share offering at $8 per share.
• What Reneo Pharmaceuticals Does: Reneo Pharmaceuticals Inc is a clinical stage pharmaceutical company. It is focused on the development of therapies for patients with rare genetic mitochondrial diseases, which are often associated with the inability of mitochondria to produce adenosine triphosphate (ATP).

Don’t forget to check out our premarket coverage here

Herbalife

• The Trade: Herbalife Ltd. (NYSE:HLF) Director Stephan Paulo Gratziani bought a total of 23,500 shares at an average price of $14.06. To acquire these shares, it cost around $330.3 thousand.
• What’s Happening: Herbalife Nutrition posted downbeat quarterly earnings.
• What Herbalife Does: Herbalife Ltd, formerly Herbalife Nutrition Ltd is an international nutrition company that provides health and wellness products to consumers in 95 markets, which consists of countries and territories, through their direct-selling business model.

Check This Out: Investor Sentiment Declines Slightly Following Inflation Data