Although the Nasdaq jumped more than 200 points 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.
- The Trade: Armata Pharmaceuticals, Inc. ARMP 10% owner Innoviva Strategic Opportunities Llc acquired a total of 5,385,208 shares at an average price of $5.00. To acquire these shares, it cost around $26.93 million.
- What’s Happening: Armata Pharmaceuticals recently reported closing of second and final tranche of $45 million private placement with Innoviva.
- What Armata Pharmaceuticals Does: Armata Pharmaceuticals Inc is a developer of pathogen-specific bacteriophage therapeutics for the treatment of antibiotic-resistant and difficult-to-treat bacterial infections using its proprietary bacteriophage-based technology.
- The Trade: Sensient Technologies Corporation SXT 10% owner Freemont Capital Pte Ltd acquired a total of 29,015 shares at an average price of $84.80. To acquire these shares, it cost around $2.46 million.
- What’s Happening: Sensient Technologies, in February, reported consolidated revenue of $340.4 million for the fourth quarter.
- What Sensient Technologies Does: Sensient Technologies manufactures and markets natural and synthetic colors, flavors, and flavor extracts.
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- The Trade: LCI Industries LCII President and CEO Jason Lippert bought a total of 9,265 shares at an average price of $108.00. To acquire these shares, it cost around $1 million.
- What’s Happening: LCI Industries subsidiary, Lippert Components Inc, recently acquired substantially all of the business assets of Girard Systems and Girard Products LLC for an undisclosed sum.
- What LCI Industries Does: LCI Industries Inc supplies domestically and internationally components for the original equipment manufacturers of recreational vehicles and adjacent industries including buses; trailers used to haul boats, livestock, equipment and other cargo.
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