Over $42 Million Bet On This Biotechnology Stock? Check Out These 3 Stocks Insiders Are Buying

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.

Acrivon Therapeutics

• The Trade: Acrivon Therapeutics, Inc. ACRV Director Rajeev Shah acquired a total of 4,810,508 shares an average price of $12.50. To acquire these shares, it cost around $42.37 million.
• What’s Happening: The company recently priced its initial public offering of 7,550,000 shares at $12.50 per share.
• What Acrivon Therapeutics Does: Acrivon Therapeutics is clinical stage biopharmaceutical company.

Ryan Specialty

• The Trade: Ryan Specialty Holdings, Inc. RYAN CEO Patrick Ryan acquired a total of 288,038 shares at an average price of $38.26. To acquire these shares, it cost around $11.02 million.
• What’s Happening: The company recently posted Q3 results.
• What Ryan Specialty Does: Ryan Specialty Holdings Inc, formerly Ryan Specialty Group Holdings Inc is a service provider of specialty products and solutions for insurance brokers, agents and carriers.

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Greenhill & Co

• The Trade: Greenhill & Co., Inc. GHL Chairman and CEO Scott L Bok bought a total of 47,850 shares at an average price of $10.09. To acquire these shares, it cost around $482.99 thousand.
• What’s Happening: Greenhill recently reported better-than-expected Q3 sales results.
• What Greenhill & Co Does: Greenhill & Co Inc is an independent investment bank that provides financial and strategic advice on significant domestic and cross-border mergers and acquisitions, divestitures, restructurings, financings, capital raising and other transactions to a diverse client base, including corporations, partnerships, institutions and governments globally.