Over $25M Bet On This Healthcare Stock? Check Out These 3 Stocks Insiders Are Buying

Author: Lisa Levin | August 15, 2023 07:44am

Although U.S. stocks closed mostly higher on Monday, 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.

Royal Caribbean Cruises

• The Trade: Royal Caribbean Cruises Ltd. (NYSE:RCL) Director Maritza Gomez Montiel acquired a total of 1,000 shares an average price of $103.70. To acquire these shares, it cost around $103,700.
• What’s Happening: Royal Caribbean Cruises reported second-quarter sales growth of 61.3% year-on-year to $3.52 billion Thursday, beating the consensus of $3.41 billion.
• What Royal Caribbean Cruises Does: Royal Caribbean is the world's second-largest cruise company, operating 64 ships across five global and partner brands in the cruise vacation industry, with 10 more ships on order through 2026.

Sarepta Therapeutics

• The Trade: Sarepta Therapeutics, Inc. (NASDAQ:SRPT) Director Michael Chambers acquired a total of 23,686 shares at an average price of $108.05. To acquire these shares, it cost around $2.56 million.
• What’s Happening: Sarepta Therapeutics reported narrower-than-expected second-quarter loss.
• What Sarepta Therapeutics Does: Sarepta Therapeutics Inc is a biotechnology company focused on treating rare, infectious, and other diseases. It targets a broad range of diseases while focusing on the rapid development of its drug candidates.

Don’t forget to check out our premarket coverage here

Sigilon Therapeutics

• The Trade: Sigilon Therapeutics, Inc. (NASDAQ:SGTX) 10% owner Shenandoah Acquisition Corp bought a total of 1,718,493 shares at an average price of $14.92. To acquire these shares, it cost around $25.64 million.
• What’s Happening: Eli Lilly And Co recently agreed to acquire the company for a purchase price of $14.92 per share in cash (an aggregate of approximately $34.6 million).
• What Sigilon Therapeutics Does: Sigilon Therapeutics Inc is a clinical-stage biopharmaceutical company. The company is developing a new class of therapeutics and functional cures for patients with chronic diseases by providing stable and durable levels of therapeutic molecules to patients.

 

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Posted In: RCL SGTX SRPT