$2 Million Bet On Tricida? 3 Stocks Insiders Are Buying

Although US stocks closed higher 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.

Tricida

• The Trade: Tricida, Inc. TCDA 10% owner Nimish Shah acquired a total of 76,446 shares an average price of $50.63. To acquire these shares, it cost around $2.04 million.
• What’s Happening: Tricida, during August, posted a Q2 loss of $0.49 per share.
• What Tricida Does: Tricida Inc is a pharmaceutical company focused on the development and commercialization of its drug candidate, veverimer (TRC101), a non-absorbed, orally-administered polymer designed to treat metabolic acidosis by binding and removing acid from the gastrointestinal, or GI, tract.

Riley Exploration Permian

• The Trade: Riley Exploration Permian, Inc. REPX 10% owner Balmon California Inc acquired a total of 8,129 shares at an average price of $23.08. To acquire these shares, it cost around $187.62 thousand.
• What’s Happening: Riley Permian raised quarterly cash dividend from $0.31 to $0.34/share.
• What Riley Exploration Permian Does: Riley Exploration Permian Inc is engaged in the business of exploration for and production of oil and natural gas. The company operations are in Kansas Properties, Tennessee Properties, among others.

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Also check this: Walmart To Rally Over 25%? Here Are 5 Other Price Target Changes For Tuesday

VOXX International

• The Trade: VOXX International Corporation VOXX 10% owner Avalon Park Group Holding AG bought a total of 16,161 shares at an average price of $6.95. To acquire these shares, it cost around $112.32 thousand.
• What’s Happening: The company recently posted downbeat quarterly results.
• What VOXX International Does: VOXX International Corp is a manufacturer and supplier of consumer electronic products in the automotive, premium audio, and accessory industries.