4 Stocks Insiders Are Buying

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.

Evolus

The Trade: Evolus, Inc. EOLS 10% owner Medytox Inc acquired a total of 142000 shares at an average price of $11.10. The insider spent 1,576,808.03 to acquire those share.

What’s Happening: Evolus, earlier during the month, reported a wider-than-expected quarterly loss.

What Evolus Does: Evolus Inc is engaged in providing physicians and their patients with expanded choices in medical aesthetic treatments and procedures.

Rafael Holdings

The Trade: Rafael Holdings, Inc. RFL CEO Howard Jonas acquired a total of 112561 shares at an average price of $44.92. To acquire these shares, it cost $5,056,240.12.

What’s Happening: Rafael Pharmaceuticals completed a Phase 1b trial of CPI-613 (devimistat) combined with gemcitabine and cisplatin in patients with biliary tract cancer.

What Rafael Holdings Does: Rafael Holdings Inc, through its subsidiaries, is a clinical stage, oncology-focused pharmaceutical company committed to the development and commercialization of therapies that exploit the metabolic differences between normal cells and cancer cells.

Krispy Kreme

The Trade: Krispy Kreme, Inc. DNUT 10% owner Jab Holdings Bv, BV Indulgence Jab, Rl Sa Investments Jab, Jab Holding Co Sa Rl, Bv Benckiser Joh, Se Agnaten, Se Lucresca bought a total of 713360 shares at an average price of $16.66. The insider spent $11,886,292.07 to acquire those shares.

What’s Happening: Krispy Kreme, recently, reported second-quarter FY21 sales growth of 42.6% year-on-year, to $349.19 million, beating the consensus of $333.36 million.

What Krispy Kreme Does: Krispy Kreme Inc is a sweet treat brand. It is an omnichannel business operating through a network of doughnut shops, partnerships with leading retailers, and a growing e-Commerce and delivery business.

Biomea Fusion

The Trade: Biomea Fusion, Inc. BMEA CEO Thomas Andrew Butler acquired a total of 24000 shares at an average price of $13.20. To acquire these shares, it cost $316,872.00.

What’s Happening: Biomea Fusion, earlier during the month, reported a H1'21 net loss of $14.3 million.

What Biomea Fusion Does: Biomea Fusion is a preclinical-stage biopharmaceutical company. It is focused on the discovery, development and commercialization of irreversible small molecule drugs to treat patients with genetically defined cancers.