Executives Buy More Than $32M Of 4 Stocks

Although U.S. stock futures traded lower this morning 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.

Confluent

• The Trade: Confluent, Inc. CFLT 10% owner Altimeter Capital Management General Partner Llc acquired a total of 50,000 shares at an average price of $39.97. To acquire these shares, it cost around $2 million.
• What’s Happening: Goldman Sachs recently maintained Confluent with a Neutral and lowered the price target from $75 to $48.
• What Confluent Does: Confluent Inc is a new category of data infrastructure designed to connect all the applications, systems, and data layers of a company around a real-time central nervous system.

Sensient Technologies

• The Trade: Sensient Technologies Corporation SXT 10% owner Freemont Capital Pte Ltd acquired a total of 35,745 shares at an average price of $82.64. To acquire these shares, it cost around $2.95 million.
• What’s Happening: Sensient Technologies is scheduled to hold its conference call to discuss 2022 first quarter results on Friday, April 29, 2022.
• What Sensient Technologies Does: Sensient Technologies manufactures and markets natural and synthetic colors, flavors, and flavor extracts.

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Also check this: Executives Buy More Than $1.5M Of 3 Penny Stocks

Lyra Therapeutics

• The Trade: Lyra Therapeutics, Inc. LYRA Director Joseph Edelman bought a total of 5,924,170 shares at an average price of $4.22. To acquire these shares, it cost around $25 million.
• What’s Happening: Lyra Therapeutics recently announced a private placement of approximately $100.5 million.
• What Lyra Therapeutics Does: Lyra Therapeutics Inc is a clinical-stage therapeutics company focused on the development and commercialization of novel integrated drug and delivery solutions for the localized treatment of patients with ear, nose, and throat diseases.

Establishment Labs Holdings

• The Trade: Establishment Labs Holdings Inc. ESTA 10% owner Jason Wild bought a total of 35,000 shares at an average price of $70.01. The insider spent around $2.45 million to buy those shares.
• What’s Happening: Establishment Labs, last month, posted Q4 net loss from operations of $9.4 million.
• What Establishment Labs Holdings Does: Establishment Labs Holdings Inc is a medical technology company engaged in offering medical devices and aesthetic products.