More Than $3M Bet On Asana? 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.

Asana

• The Trade: Asana, Inc. ASAN President, CEO and Chairman Dustin Moskovitz acquired a total of 160,000 shares an average price of $21.34. To acquire these shares, it cost around $3.41 million.
• What’s Happening: Asana reported better-than-expected first-quarter financial results.
• What Asana Does: Asana Inc is a software company. The company provides a platform for work management that helps teams orchestrate work, from daily tasks to cross-functional strategic initiatives.

AMREP

• The Trade: AMREP Corporation AXR 10% owner Rainey Lancaster acquired a total of 25,361 shares at an average price of $14.82. To acquire these shares, it cost around $375,917.
• What’s Happening: Amrep reported a sharp increase in third-quarter EPS.
• What AMREP Does: Amrep Corp through its subsidiaries is engaged in the Real estate business.

Don’t forget to check out our premarket coverage here

Nuvectis Pharma

• The Trade: Nuvectis Pharma, Inc. NVCT 10% owner Charles Mosseri-Marlio bought a total of 8,948 shares at an average price of $15.19. To acquire these shares, it cost around $135,920.
• What’s Happening: Nuvectis Pharma posted a narrower-than-expected quarterly loss.
• What Nuvectis Pharma Does: Nuvectis Pharma Inc is a biopharmaceutical company. The company is engaged in the development of innovative precision medicines for the treatment of serious conditions of unmet medical needs in oncology.

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