$3M Bet On This Healthcare Stock? Check Out These 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.

Zymeworks

• The Trade: Zymeworks Inc. ZYME 10% owner Ecor Capital LLC acquired a total of 307,500 shares an average price of $9.70. To acquire these shares, it cost around $2.98 million.
• What’s Happening: Zymeworks and Jazz Pharmaceuticals, last month, announced that Jazz has exercised its option to continue with its exclusive development and commercialization rights to Zymeworks' zanidatamab in key markets.
• What Zymeworks Does: Zymeworks BC Inc is a clinical-stage biopharmaceutical company dedicated to the discovery, development and commercialization of next-generation multifunctional biotherapeutics.

NGM Biopharmaceuticals

• The Trade: NGM Biopharmaceuticals, Inc. NGM 10% owner TCG Opportunity III GP, LLC acquired a total of 38,139 shares at an average price of $5.00. To acquire these shares, it cost around $190.6 thousand.
• What’s Happening: NGM Bio recently outlined corporate strategy and issued guidance on key priorities.
• What NGM Biopharmaceuticals Does: NGM Biopharmaceuticals Inc is a clinical-stage biopharmaceutical company.

Don’t forget to check out our premarket coverage here

Pinnacle Financial Partners

• The Trade: Pinnacle Financial Partners, Inc. PNFP Director Joseph C Galante bought a total of 1,000 shares at an average price of $72.26. To acquire these shares, it cost around $72.26 thousand.
• What’s Happening: Pinnacle Financial recently posted downbeat quarterly results.
• What Pinnacle Financial Partners Does: Pinnacle Financial Partners Inc is a bank holding company. The company operates through its wholly owned subsidiary, Pinnacle Bank.

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