Over $27M Bet On Zymeworks? Check Out These 3 Stocks Insiders Are Buying

Although US stocks closed lower on Wednesday, 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.

RumbleON

• The Trade: RumbleON, Inc. RMBL 10% owner Stone House Capital Management LLC acquired a total of 250,000 shares an average price of $10.45. To acquire these shares, it cost around $2.61 million.
• What’s Happening: RumbleON appointed Mark Tkach as its Interim Chief Executive Officer.
• What RumbleON Does: RumbleON Inc is a USA-based online retailer that allows both consumers and dealers to Buy-Sell-Trade-Finance pre-owned motorcycles in an efficient, fast, transparent, and engaging experience.

Zymeworks

• The Trade: Zymeworks Inc. ZYME 10% owner Ecor Capital LLC acquired a total of 3,350,000 shares at an average price of $8.12. To acquire these shares, it cost around $27.2 million.
• What’s Happening: Zymeworks announced departure of President and COO Neil Klompas.
• What Zymeworks Does: Zymeworks Inc is a clinical-stage biopharmaceutical company dedicated to the discovery, development and commercialization of next-generation multifunctional biotherapeutics.

Don’t forget to check out our premarket coverage here

Kura Oncology

• The Trade: Kura Oncology, Inc. KURA Director Thomas Malley bought a total of 50,000 shares at an average price of $11.50. To acquire these shares, it cost around $575 thousand.
• What’s Happening: Kura Oncology reported pricing of $100 million public offering of common stock and pre-funded warrants.
• What Kura Oncology Does: Kura Oncology Inc is a clinical-stage biopharmaceutical company, that engages in discovering and developing therapeutics for the treatment of solid tumors and blood cancers.

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