Over $2M Bet On Akero Therapeutics? Check Out These 3 Stocks Insiders Are Buying

Although U.S. 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.

Akero Therapeutics

• The Trade: Akero Therapeutics, Inc. AKRO Director Walmsley Graham acquired a total of 55,000 shares an average price of $42.95. To acquire these shares, it cost around $2.36 million.
• What’s Happening: Akero Therapeutics reported its SYMMETRY study met safety and tolerability endpoints.
• What Akero Therapeutics Does: Akero Therapeutics Inc is a clinical-stage biotechnology company focused on developing and commercializing transformative treatments for serious metabolic diseases with high unmet medical needs.

Crocs

• The Trade: Crocs, Inc. CROX Director Thomas Smach acquired a total of 1,435 shares at an average price of $104.53. To acquire these shares, it cost around $150,001.
• What’s Happening: Crocs reported second-quarter FY23 sales growth of 11.2% year-on-year to $1.07 billion, beating the analyst consensus of $1.04 billion.
• What Crocs Does: Crocs Inc is engaged in the design, development, marketing, distribution, and sale of casual lifestyle footwear accessories for men, women, and children.

Don’t forget to check out our premarket coverage here

The Bancorp

• The Trade: The Bancorp, Inc. TBBK Director Matthew Cohn bought a total of 5,868 shares at an average price of $37.61. To acquire these shares, it cost around $220,688.
• What’s Happening: The company posted better-than-expected quarterly results.
• What The Bancorp Does: The Bancorp Inc is a financial holding company, through its subsidiary it is engaged in specialty lending namely securities-backed lines of credit, vehicle fleet and another equipment leasing, Small Business Administration lending, and commercial mortgage-backed loans, generated for sale into commercial mortgage-backed securities markets through securitizations.

Check This Out: Fear & Greed Index Moves To 'Greed' Zone After S&P 500 Settles Lower