U.S. stocks closed mixed on Thursday, with a few notable insider trades catching the attention of investors.
Insiders purchasing shares often signifies confidence in a company’s prospects or a belief that the stock is undervalued. This signals a potential opportunity to consider a long position on the stock. However, insider purchases should not be the sole basis for investment decisions, but they can bolster conviction in a buying decision.
Listed below are some recent notable insider purchases. For additional insights, take a look at Benzinga’s insider transactions platform.
Dyne Therapeutics
- The Insider Trade: Dyne Therapeutics, Inc. (NASDAQ: DYN) 10% owner Dirk Kersten picked up a total of 1,714,285 shares at an average price of $17.50, amounting to approximately $30 million.
- Recent Developments: Dyne Therapeutics recently conducted a $300 million public offering of 17.15 million common stock at $17.50 per share.
- About Dyne Therapeutics: Dyne Therapeutics Inc. is a biotechnology company focused on delivering therapeutics for patients with genetically-driven diseases.
EyePoint Pharmaceuticals
- The Insider Trade: EyePoint Pharmaceuticals, Inc. (NASDAQ: EYPT) 10% owner Cormorant Global Healthcare Master Fund LP acquired a total of 855,000 shares at an average price of $19.94, amounting to around $17.05 million.
- Recent Developments: EyePoint recently announced the dosing of the first patient in the Phase 2 VERONA clinical trial of EYP-1901 for diabetic macular edema.
- About EyePoint Pharmaceuticals: EyePoint Pharmaceuticals Inc. is a pharmaceutical company focused on developing and commercializing ophthalmic products for treating eye diseases.
Don’t overlook our premarket coverage here.
Agree Realty
- The Insider Trade: Agree Realty Corporation (NYSE: ADC) Director and Executive Chairman of the Board, Richard Agree, purchased a total of 10,500 shares at an average price of $62.57, amounting to approximately $656,985.
- Recent Developments: Mizuho recently maintained a Neutral rating on Agree Realty and raised the price target from $61 to $65.
- About Agree Realty: Agree Realty Corporation operates as a fully integrated real estate investment trust primarily focused on owning, acquiring, developing, and managing retail properties net leased to industry-leading tenants.
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