Executives Buy More Than $12M Of 3 Stocks

Although US stocks closed mostly lower on Monday, 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.

Revolution Medicines

• The Trade: Revolution Medicines, Inc. RVMD Director Thilo Schroeder acquired a total of 168,051 shares at an average price of $20.40. To acquire these shares, it cost around $3.43 million.
• What’s Happening: Revolution Medicines recently announced seven oral presentations at the upcoming American Association for Cancer Research Annual Meeting 2022.
• What Revolution Medicines Does: Revolution Medicines Inc is a clinical-stage precision oncology company focused on developing novel targeted therapies to inhibit elusive, frontier targets within notorious growth and survival pathways, with particular emphasis on the RAS and mTOR signaling pathways.

Coupang

• The Trade: Coupang, Inc. CPNG Investment Adviser Greenoaks Capital acquired a total of 200,000 shares at an average price of $18.85. To acquire these shares, it cost around $3.77 million.
• What’s Happening: Coupang recently posted a Q4 loss of $0.23 per share.
• What Coupang Does: Coupang Inc is an e-commerce company. The company sells apparel, electronics, footwear, food products, furniture, nutritional supplements, and other products.

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Also check this: Bristol-Myers Squibb And 2 Other Stocks Sold By Insiders

PureCycle Technologies

• The Trade: PureCycle Technologies, Inc. PCT Director Jeffrey Richard Fieler bought a total of 714,284 shares at an average price of $7.00. To acquire these shares, it cost around $5 million.
• What’s Happening: PureCycle recently revealed two new appointments to its board.
• What PureCycle Technologies Does: PureCycle Technologies Inc holds a global license to commercialize the only patented solvent-based purification recycling technology, developed by The Procter & Gamble Company (P&G), for restoring waste polypropylene (PP) into virgin-like resin.