Although US stock futures traded higher this morning 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.
Revolution Medicines
- The Trade: Revolution Medicines, Inc. (NASDAQ:RVMD) Director Thilo Schroeder acquired a total of 232,364 shares at an average price of $23.63. To acquire these shares, it cost around $5.49 million.
- What’s Happening: Revolution Medicines announced seven oral presentations at the upcoming American Association for Cancer Research (AACR) Annual Meeting 2022 being held April 8-13, 2022.
- What Revolution Medicines Does: Revolution Medicines Inc is a clinical-stage precision oncology company focused on developing novel targeted therapies to inhibit elusive, frontier targets within notorious growth and survival pathways, with particular emphasis on the RAS and mTOR signaling pathways.
iTeos Therapeutics
- The Trade: iTeos Therapeutics, Inc. (NASDAQ:ITOS) Director Aaron I Davis acquired a total of 50,000 shares at an average price of $32.51. To acquire these shares, it cost around $1.63 million.
- What’s Happening: ITeos Therapeutics recently posted Q4 EPS of $4.88.
- What iTeos Therapeutics Does: ITeos Therapeutics Inc is a biopharmaceutical company engaged in the discovery and development of immuno-oncology therapeutics for patients.
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Also check this: Executives Buy Over $2.2M Of 3 Penny Stocks
Children's Place
- The Trade: The Children's Place, Inc. (NASDAQ:PLCE) Director Elizabeth Boland bought a total of 2,200 shares at an average price of $48.86. To acquire these shares, it cost around $107.49 thousand.
- What’s Happening: Children's Place recently reported fourth-quarter FY21 sales growth of 7.4% year-on-year, to $507.80 million, missing the consensus of $537.73 million.
- What Children's Place Does: Children's Place Inc is a specialty retailer that sells accessories, footwear, and other items for children.
