$39M Bet On This Biotechnology Stock? Check Out These 3 Stocks Insiders Are Buying

Although US stocks closed lower 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.

Herbalife Nutrition

  • The Trade: Herbalife Nutrition Ltd HLF Director Donal Mulligan acquired a total of 15,000 shares an average price of $19.32. To acquire these shares, it cost around $289.8 thousand.
  • What’s Happening: Herbalife reported better-than-expected Q4 EPS and sales results.
  • What Herbalife Nutrition Does: Herbalife Nutrition Ltd is an international nutrition company that provides health and wellness products to consumers in 95 markets, which consists of countries and territories, through their direct-selling business model.

Voyager Therapeutics

  • The Trade: Voyager Therapeutics Inc VYGR 10% owner Neurocrine Biosciences Inc acquired a total of 4,395,588 shares at an average price of $8.88. To acquire these shares, it cost around $39.03 million.
  • What’s Happening: Voyager Therapeutics announced a strategic collaboration with Neurocrine Biosciences to advance multiple gene therapies for the treatment of neurological diseases.
  • What Voyager Therapeutics Does: Voyager Therapeutics Inc is a gene therapy company focused on developing life-changing treatments for patients suffering from severe neurological diseases.

Don’t forget to check out our premarket coverage here

Charles River Laboratories Intl.

  • The Trade: Charles River Laboratories Intl. Inc CRL Director Richard F Wallman bought a total of 1,750 shares at an average price of $220.73. To acquire these shares, it cost around $386.28 thousand.
  • What’s Happening: Charles River Laboratories issued FY23 adjusted EPS guidance below estimates.
  • What Charles River Laboratories Does: Charles River Laboratories was founded in 1947 and is a leading provider of drug discovery and development services.

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