Although the Dow Jones dropped by around 350 points on Friday, 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: Cable One, Inc. CABO Director Thomas S. Gayner acquired a total of 5,000 shares at at an average price of $1,291.17. To acquire these shares, it cost around $6.46 million.
- What’s Happening: Cable One recently announced a buyback of up to $450 million.
- What Cable One Does: Cable One Inc is a telecommunications company. It derives revenue from the provision of broadband, voice, and video services to residential and business customers.
- The Trade: Cullinan Oncology, Inc. CGEM 10% owner Mark Lampert acquired a total of 751,396 shares at an average price of $11.00. To acquire these shares, it cost around $8.26 million.
- What’s Happening: Cullinan Oncology and Taiho Pharmaceutical, last month. announced a strategic collaboration to jointly develop and commercialize CLN-081/TAS6417 and Taiho's acquisition of Cullinan Pearl.
- What Cullinan Oncology Does: Cullinan Oncology Inc is a biopharmaceutical company.
Don’t forget to check out our premarket coverage here .
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.