Benzinga - by Avi Kapoor, Benzinga Staff Writer.
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.
GameStop
- The Trade: GameStop Corp. (NYSE: GME) Director Lawrence Cheng acquired a total of 10,000 shares an average price of $11.22. To acquire these shares, it cost around $112,238.
- What’s Happening: On March 26, GameStop reported fourth-quarter net sales of $1.794 billion, down from $2.226 billion year-over-year.
- What GameStop Does: GameStop Corp is a U.S. multichannel video game, consumer electronics, and services retailer. The company operates across Europe, Canada, Australia, and the United States.
- The Trade: PepGen Inc. (NASDAQ: PEPG) 10% owner Oxford Science Enterprises Plc acquired a total of 879,970 shares at an average price of $12.00. To acquire these shares, it cost around $10.6 million.
- What’s Happening: On March 13, PepGen received U.S. FDA orphan drug and rare pediatric disease designations for PGN-EDO51 for the treatment of Duchenne Muscular Dystrophy.
- What PepGen Does: PepGen Inc is a clinical-stage biotechnology company advancing the next generation of oligonucleotide therapeutics to transform the treatment of severe neuromuscular and neurologic diseases.
Tile Shop Holdings
- The Trade: Tile Shop Holdings, Inc. (NASDAQ: TTSH) 10% owner Pleasant Lake Onshore Feeder Fund LP bought a total of 77,500 shares at an average price of $6.97. To acquire these shares, it cost around $539,954.
- What’s Happening: Tile Shop named Mark B. Davis as CFO, effective April 1, 2024, replacing Karla Lunan.
- What Tile Shop Holdings Does: Tile Shop Holdings Inc is a specialty retailer of natural stone and man-made tiles, setting and maintenance materials, and related accessories in the United States.
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