Around $11M Bet On Insight Enterprises? Check Out These 4 Stocks Insiders Are Buying

Although US stocks closed lower on Thursday, 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.

Mineralys Therapeutics

  • The Trade: Mineralys Therapeutics, Inc. MLYS 10% owner HBM Healthcare Investments (Cayman) Ltd. acquired a total of 3,218,106 shares an average price of $16.00. To acquire these shares, it cost around $5 million.
  • What’s Happening: Mineralys Therapeutics announced pricing of $192 million upsized initial public offering of 12 million shares of common stock at a price of $16 per share.
  • What Mineralys Therapeutics Does: Mineralys Therapeutics Inc is a clinical-stage biopharmaceutical company focused on developing medicines to target diseases driven by abnormally elevated aldosterone.

Bluerock Homes Trust

  • The Trade: Bluerock Homes Trust Inc BHM 10% owner Sand Capital Associates LLC acquired a total of 113,283 shares at an average price of $20.44. To acquire these shares, it cost around $2.32 million.
  • What’s Happening: The stock lost around 7% over the past month.
  • What Bluerock Homes Trust Does: Bluerock Homes Trust Inc is an externally managed, publicly traded real estate investment trust (REIT) and holds a portfolio of Bluerock Residential's Single-Family Properties and certain other assets.

Don’t forget to check out our premarket coverage here

Insight Enterprises

  • The Trade: Insight Enterprises, Inc. NSIT 10% owner ValueAct Holdings GP, LLC bought a total of 85,355 shares at an average price of $127.76. To acquire these shares, it cost around $10.91 million.
  • What’s Happening: Insight Enterprises recently reported better-than-expected Q4 adjusted EPS.
  • What Insight Enterprises Does: Insight Enterprises Inc is a Fortune 500 global IT provider primarily engaged in helping businesses of all sizes, large enterprises, governments, schools, and health care organizations.

Check This Out: Top 5 Materials Stocks That Are Ticking Portfolio Bombs

MacroGenics

  • The Trade: MacroGenics Inc MGNX 10% owner BB Biotech AG bought a total 500,000 shares at an average price of $5.07. The insider spent around $2.53 million to buy those shares.
  • What’s Happening: MacroGenics announced preliminary safety and anti-tumor activity data from the dose expansion phase of its ongoing Phase 1 trial of lorigerlimab.
  • What MacroGenics Does: Macrogenics Inc is a biotechnology company focused on discovering and developing antibody-based therapeutics for the treatment of cancer.
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