Although US stocks closed mixed 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.
Enviva
- The Trade: Enviva Inc. EVA Director Jeffrey W Ubben acquired a total of 228,697 shares an average price of $54.78. To acquire these shares, it cost around $12.53 million.
- What’s Happening: Enviva, last month, namesdThomas Meth as CEO.
- What Enviva Does: Enviva Inc is a global energy company specializing in sustainable wood bioenergy. It is a producer of sustainable wood pellets, which provide a low-carbon alternative to fossil fuels.
Iovance Biotherapeutics
- The Trade: Iovance Biotherapeutics, Inc. IOVA Director Wayne P Rothbaum acquired a total of 10,000,000 shares at an average price of $6.50. To acquire these shares, it cost around $65 million.
- What’s Happening: Iovance Biotherapeutics, last month, announced that its ongoing rolling Biologics License Application (BLA) submission to the FDA for lifileucel is expected to be completed in the first quarter of 2023 as against Q4 FY22 expected earlier.
- What Iovance Biotherapeutics Does: Iovance Biotherapeutics, Inc., headquartered in San Carlos, California, is a clinical-stage biotechnology company.
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Datadog
- The Trade: Datadog, Inc. DDOG Director Matthew Jacobson bought a total of 19,702 shares at an average price of $70.42. To acquire these shares, it cost around $1.39 million.
- What’s Happening: Datadog, last month, reported better-than-expected Q3 results.
- What Datadog Does: Datadog is a cloud-native company that focuses on analyzing machine data.