Insiders Buy Around $112M Of 3 Stocks


US stock futures traded higher on Tuesday, amid reports that some Russian troops are returning to their bases. Investors, meanwhile, focused on some 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.

Incyte

  • The Trade: Incyte Corporation INCY Director Felix Baker acquired a total of 1,598,374 shares at an average price of $66.91. To acquire these shares, it cost around $106.95 million.
  • What’s Happening: Incyte recently posted Q4 adjusted EPS of $0.10, compared to $0.93 posted a year ago.
  • What Incyte Does: Incyte focuses on the discovery and development of small-molecule drugs. The firm's lead drug, Jakafi, treats two types of rare blood cancer and graft versus host disease and is partnered with Novartis.

Vera Therapeutics

  • The Trade: Vera Therapeutics, Inc. VERA Director Maha Katabi acquired a total of 266,666 shares at an average price of $15.00. To acquire these shares, it cost around $4 million.
  • What’s Happening: Vera Therapeutics recently priced an upsized offering of common stock at $15 per share.
  • What Vera Therapeutics Does: Vera Therapeutics Inc is a clinical stage biotechnology company. It is focused on developing and commercializing transformative treatments for patients with serious immunological diseases.

Also check this: 3 Penny Stocks Insiders Are Buying

2U

  • The Trade: 2U, Inc. TWOU Director Paul Maeder bought a total of 110,000 shares at an average price of $9.43. To acquire these shares, it cost around $1.04 million.
  • What’s Happening: 2U recently reported Q4 earnings results and issued FY22 revenue guidance.
  • What 2U Does: 2U Inc provides educational technology services for nonprofit colleges and universities. It builds, delivers, and monitors educational platforms that enable online delivery of degree programs and alternative credentials such as short technical courses.

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