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.
Computer Task Group
The Trade: Computer Task Group, Incorporated (NASDAQ:CTG) Director James R Helvey III acquired a total of 5000 shares at an average price of $8.91. The insider spent $44,525.00 to acquire those share.
What’s Happening: Computer Task Group, in July, reported second-quarter FY21 revenue growth of 3.4% year-on-year to $92.2 million, missing the analyst consensus of $94.1 million..
What Computer Task Does: Computer Task Group is a United States-based company engaged in providing information technology services to its clients.
What’s Happening: The company, last month, reported executive management changes.
What Gatos Silver Does: Gatos Silver is a development and exploration company. It is focused on the production of Cerro Los Gatos Mine and the further exploration and development of the Los Gatos District, both located in Chihuahua, Mexico.
The Trade: Spero Therapeutics, Inc. (NASDAQ:SPRO) 10% owner Aquilo Capital Management Llc, Aquilo Capital Lp bought a total of 92687 shares at an average price of $18.42. The insider spent $1,707,518.91 to acquire those shares.
What’s Happening: Spero Therapeutics, last month, reported upbeat results for the second quarter
What Spero Therapeutics Does: Spero Therapeutics is a clinical-stage biopharmaceutical firm. It focuses on identifying, developing and commercializing novel treatments for MDR (Multi-drug-resistant) bacterial infections and rare diseases.
What’s Happening: The company, last month, reported a Q2 loss of $1.04 per share.
What Lumos Pharma Does: Lumos Pharma is a biopharmaceutical company that develops treatments for cancer and rare diseases.