$30M Bet On Deciphera Pharmaceuticals? Check Out These 4 Stocks Insiders Are Buying

Although US stocks closed mixed on Tuesday, 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.

Appian

• The Trade: Appian Corporation APPN 10% owner Colin Moran acquired a total of 283,010 shares an average price of $39.36. To acquire these shares, it cost around $11.14 million.
• What’s Happening: Truist Securities recently maintained Appian with a Buy and lowered the price target from $50 to $45.
• What Appian Does: Appian Corp provides a low-code software development platform as a service that enables organizations to rapidly develop powerful and unique applications.

Deciphera Pharmaceuticals

• The Trade: Deciphera Pharmaceuticals, Inc. DCPH 10% owner Brightstar Associates LLC acquired a total of 1,666,666 shares at an average price of $18.00. To acquire these shares, it cost around $30 million.
• What’s Happening: Deciphera Pharmaceuticals presented results from ctDNA analysis of INTRIGUE Phase 3 clinical study at the American Society of Clinical Oncology Plenary Series Session.
• What Deciphera Pharmaceuticals Does: Deciphera Pharmaceuticals Inc is a biotechnology company, which develops and manufactures kinase-inhibiting drugs for the treatment of cancers and immunological diseases.

Don’t forget to check out our premarket coverage here

Fulcrum Therapeutics

• The Trade: Fulcrum Therapeutics, Inc. FULC 10% owner Rajeev Shah bought a total of 1,923,076 shares at an average price of $13.00. To acquire these shares, it cost around $25 million.
• What’s Happening: Fulcrum Therapeutics recently announced pricing of an upsized public offering of common stock..
• What Fulcrum Therapeutics Does: Fulcrum Therapeutics Inc is a clinical-stage biopharmaceutical company. It has developed a proprietary product engine that employs to identify and validate cellular drug targets that can modulate gene expression.

Check This Out: Benzinga's Most Accurate Analysts Say Hold These 3 Tech & Telecom Stocks Delivering High-Dividend Yields

BancFirst

• The Trade: BancFirst Corporation BANF Executive Vice President Dennis Brand bought a total 2,000 shares at an average price of $83.00. The insider spent around $166 thousand to buy those shares.
• What’s Happening: BancFirst recently posted downbeat quarterly earnings.
• What BancFirst Does: BancFirst Corp is engaged in providing banking services. The company's business unit includes metropolitan banks, community banks, Pegasus Bank, other financial services and executive, operations and support.