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.
Lazydays Holdings
- The Trade: Lazydays Holdings, Inc. (NASDAQ:LAZY) 10% owner Bryant Riley acquired a total of 191,203 shares an average price of $12.95. To acquire these shares, it cost around $2.48 million.
- What’s Happening: Truist Securities recently maintained Lazydays with a Hold and lowered the price target from $16 to $13.
- What Lazydays Holdings Does: Lazydays Holdings Inc operates recreational vehicle dealerships.
Biohaven
- The Trade: Biohaven Ltd. (NYSE:BHVN) CEO Vlad Coric acquired a total of 485,775 shares at an average price of $10.31. To acquire these shares, it cost around $5.01 million.
- What’s Happening: Pfizer completed the acquisition of Biohaven Pharmaceuticals.
- What Biohaven Does: Biohaven Pharmaceutical Holding Co Ltd is a clinical-stage biopharmaceutical company. It has a portfolio of late-stage product candidates targeting neurological diseases, including rare disorders.
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Tricida
- The Trade: Tricida, Inc. (NASDAQ:TCDA) 10% owner Nimish Shah bought a total of 223,100 shares at an average price of 11.81. To acquire these shares, it cost around $2.63 million.
- What’s Happening: Tricida, during August, 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.
Coinbase Global
- The Trade: Coinbase Global, Inc. (NASDAQ:COIN) Director Tobias Lutke bought a total 5,610 shares at an average price of $69.09. The insider spent around $387.59 thousand to buy those shares.
- What’s Happening: Wells Fargo recently initiated coverage on Coinbase Global with an Underweight rating and announced a price target of $57.
- What Coinbase Global Does: Founded in 2012, Coinbase is the leading cryptocurrency exchange platform in the United States.
