Benzinga - by Avi Kapoor, Benzinga Staff Writer.
Although U.S. stocks closed lower 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.
KalVista Pharmaceuticals
- The Trade: KalVista Pharmaceuticals, Inc. (NASDAQ: KALV) 10% owner Nimish Shah acquired a total of 26,246 shares an average price of $12.72. To acquire these shares, it cost around $333,779.
- What’s Happening: KalVista Pharma, last month, announced publication of first oral factor XIIa data in Frontiers in Pharmacology.
- What KalVista Pharmaceuticals Does: KalVista Pharmaceuticals Inc is a pharmaceutical company, which focuses on the discovery, development, and commercialization of small molecule protease inhibitors for a range of diseases.
- The Trade: Avadel Pharmaceuticals plc (NASDAQ: AVDL) CFO Thomas McHugh acquired a total of 2,000 shares at an average price of $14.50. To acquire these shares, it cost around $29,000.
- What’s Happening: Avadel said it held $105 million of cash, cash equivalents and marketable securities at Dec. 31, 2023.
- What Avadel Pharmaceuticals Does: Avadel Pharmaceuticals PLC is a specialty pharmaceutical company. It identifies, develops, and commercializes branded pharmaceutical products including controlled-release therapeutic products based on its proprietary drug delivery technologies in the United States.
Dorian LPG
- The Trade: Dorian LPG Ltd. (NYSE: LPG) President and CEO John C Hadjipateras bought a total of 5,000 shares at an average price of $42.58. To acquire these shares, it cost around $212,900.
- What’s Happening: Dorian LPG, during November, posted upbeat quarterly results.
- What Dorian LPG Does: Dorian LPG Ltd is an international liquefied petroleum gas shipping company focused on owning and operating gas carriers, or VLGCs.
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