Around $8 Million Bet On This Biotechnology Stock? 3 Stocks Insiders Are Buying

Around $8 Million Bet On This Biotechnology Stock? 3 Stocks Insiders Are Buying

Although US stocks closed higher 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.

Keurig Dr Pepper

  • The Trade: Keurig Dr Pepper Inc. KDP Chief Supply Chain Officer Anthony Maurice Milikin acquired a total of 12,979 shares at an average price of $37.70. To acquire these shares, it cost around $489.31 thousand.
  • What’s Happening: Keurig Dr Pepper, during July, reported better-than-expected Q2 sales..
  • What Keurig Dr Pepper Does: Keurig Dr Pepper, the product of a 2018 merger between Dr Pepper Snapple and Keurig Green Mountain, is the third-largest nonalcoholic beverage company in North America.

Tricida

  • The Trade: Tricida, Inc. TCDA 10% owner Nimish Shah acquired a total of 686,712 shares at an average price of $11.53. To acquire these shares, it cost around $7.92 million.
  • What’s Happening: Tricida, last month, reported better-than-expected Q2 EPS results.
  • What Tricida Does: Tricida Inc is a pharmaceutical company focused on the development and commercialization of its drug candidate, veverimer (TRC101), a non-absorbed, orally-administered polymer designed to treat metabolic acidosis by binding and removing acid from the gastrointestinal, or GI, tract.

Don’t forget to check out our premarket coverage here .

Also check this: Boeing To $233? Here Are 5 Other Price Target Changes For Thursday

PVH

  • The Trade: PVH Corp. PVH CEO Stefan Larsson bought a total of 18,540.36 shares at an average price of $53.94. To acquire these shares, it cost around $1 million.
  • What’s Happening: PVH recently reported worse-than-expected Q2 sales results.
  • What PVH Does: PVH designs and markets branded apparel in more than 40 countries. Its key fashion categories include men's dress shirts, ties, sportswear, underwear, and jeans.

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