Around $8 Million Bet On Zymeworks? Check Out These 3 Stocks Insiders Are Buying

Although US stocks closed higher on Thursday, 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.

Alvarium Tiedemann

• The Trade: Alvarium Tiedemann Holdings, Inc. ALTI 10% owner Pangaea Three-B, LP acquired a total of 176,202 shares an average price of $9.48. To acquire these shares, it cost around $1.45 million.
• What’s Happening: The company’s shares gained around 3% over the past month.
• What Alvarium Tiedemann Does: Alvarium Tiedemann Holdings Inc is an independent global wealth and asset manager providing entrepreneurs, multi-generational families, institutions, and emerging next-generation leaders with fiduciary capabilities as well as alternative investment strategies and advisory services.

Comtech Telecommunications

• The Trade: Comtech Telecommunications Corp. CMTL Director, Chairman, President and CEO Ken A Peterman acquired a total of 44,000 shares at an average price of $12.75. To acquire these shares, it cost around $560.94 thousand.
• What’s Happening: Comtech, last month, was awarded 5G location services contract with Tier-1 MNO in Canada.
• What Comtech Telecommunications Does: Comtech Telecommunications Corp is a provider of advanced communications solutions.

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Zymeworks

• The Trade: Zymeworks Inc. ZYME 10% owner Ecor Capital LLC bought a total of 1,026,300 shares at an average price of $7.67. To acquire these shares, it cost around $7.87 million.
• What’s Happening: Zymeworks recently issued corporate update on key strategic priorities and outlook for 2023.
• What Zymeworks Does: Zymeworks BC Inc is a clinical-stage biopharmaceutical company dedicated to the discovery, development and commercialization of next-generation multifunctional biotherapeutics.