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.
- The Trade: CinCor Pharma, Inc. CINC 10% owner Kush Parmar acquired a total of 4337646 shares at an average price of $16.00. To acquire these shares, it cost $7,520,000.00.
- What’s Happening: The company, last month, priced its IPO at $16 per share.
- What CinCor Pharma Does: CinCor Pharma Inc is a clinical-stage biopharmaceutical company focused on developing its lead clinical candidate, CIN-107, for the treatment of hypertension and other cardio-renal diseases.
Northern Technologies International
- The Trade: Northern Technologies International Corporation NTIC Director Sarah Kemp acquired a total of 2012 shares at an average price of $14.91. To acquire these shares, it cost $30,005.36..
- What’s Happening: The company recently reported downbeat quarterly earnings.
- What Northern Technologies International Does: Northern Technologies International Corp, or NTIC is a United States-based firm that develops and markets environmentally beneficial products and services worldwide either directly or through a network of joint ventures, distributors, and agents.
Bed Bath & Beyond
- The Trade: Bed Bath & Beyond Inc. BBBY EVP, Chief Stores Officer Gregg Melnick bought a total of 7195 shares at an average price of $13.82. To acquire these shares, it cost $99,434.90.
- What’s Happening: Goldman Sachs recently maintained Bed Bath & Beyond with a Sell and lowered the price target from $20 to $15.
- What Bed Bath & Beyond Does: Bed Bath & Beyond is a home furnishings retailer, operating just under 1,000 stores in all 50 states, Puerto Rico, Canada, and Mexico. Stores carry an assortment of branded bed and bath accessories, kitchen textiles, and cooking supplies.
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