$18M Bet On Verve Therapeutics? Check Out These 3 Stocks Insiders Are Buying

Author: Lisa Levin | December 06, 2023 09:41am

Although U.S. stocks closed mixed on Tuesday, 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.

Big Lots

• The Trade: Big Lots, Inc. (NYSE:BIG) Director Christopher J McCormick acquired a total of 12,000 shares an average price of $6.29. To acquire these shares, it cost around $75,480.
• What’s Happening: On Nov. 30, Big Lots reported a third-quarter FY23 sales decline of 14.7% year-on-year to $1.027 billion.
• What Big Lots Does: Big Lots Inc is principally engaged in operating discount retail stores. The company provides a broad range of merchandise, including food, consumables, soft home products, hard home products, furniture, electronics and accessories, and seasonal products.

Heartland Express

• The Trade: Heartland Express, Inc. (NASDAQ:HTLD) 10% owner Julie Durr acquired a total of 1,183,788 shares at an average price of $13.75. To acquire these shares, it cost around $611,430.
• What’s Happening: On Oct. 26, Heartland Express posted weak quarterly results.
• What Heartland Express Does: Heartland Express Inc is engaged in providing truckload services across the United States and Canada.

Don’t forget to check out our premarket coverage here

Verve Therapeutics

• The Trade: Verve Therapeutics, Inc. (NASDAQ:VERV) 10% owner Krishna Yeshwant bought a total of 1,800,000 shares at an average price of $10.00. To acquire these shares, it cost around $18 million.
• What’s Happening: Verve Therapeutics recently priced its public offering 12.5 million common shares at $10/share.
• What Verve Therapeutics Does: Verve Therapeutics Inc is a genetic medicines company pioneering a new approach to the care of cardiovascular disease, transforming treatment from chronic management to single-course gene editing medicines.

 

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Posted In: BIG HTLD VERV