$2M Bet On Biohaven? Check Out These 4 Stocks Insiders Are Buying

Although U.S. 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.

Compass Diversified

• The Trade: Compass Diversified CODI 10% owner Elias Sabo acquired a total of 50,000 shares an average price of $22.36. To acquire these shares, it cost around $1.12 million.
• What’s Happening: Compass Diversified posted a loss for the second quarter.
• What Compass Diversified Does: Compass Diversified Holdings is a diversified business conglomerate based in the United States having two groups: branded consumer business and niche industrial business.

Zebra Technologies

• The Trade: Zebra Technologies Corporation ZBRA Executive Chair Anders Gustafsson acquired a total of 4,100 shares at an average price of $246.39. To acquire these shares, it cost around $1.01 million. The company’s CEO Bill Burns also bought 1,000 shares of the company.
• What’s Happening: Zebra Technologies reported a second-quarter FY23 net sales decline of 17.3% year-on-year to $1.21 billion, missing the consensus of $1.31 billion.
• What Zebra Technologies Does: Zebra Technologies is a leading provider of automatic identification and data capture technology to enterprises. Its solutions include barcode printers and scanners, mobile computers, and workflow optimization software.

Don’t forget to check out our premarket coverage here

Cerevel Therapeutics

• The Trade: Cerevel Therapeutics Holdings, Inc. CERE President and CEO Ronald Renaud Jr bought a total of 83,857 shares at an average price of $23.96. To acquire these shares, it cost around $2.01 million.
• What’s Happening: Cerevel Therapeutics posted a narrower-than-expected quarterly loss.
• What Cerevel Therapeutics Does: Cerevel Therapeutics Holdings Inc is dedicated to unraveling the mysteries of the brain to treat neuroscience diseases.

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Biohaven

• The Trade: Biohaven Ltd. BHVN Director John Childs bought a total 100,000 shares at an average price of $19.78. The insider spent around $1.98 million to buy those shares.
• What’s Happening: Biohaven posted a wider-than-expected second-quarter loss.
• What Biohaven Does: Biohaven Ltd is a clinical-stage biopharmaceutical company focused on discovering and developing therapies to improve the lives of patients with debilitating neurological and neuropsychiatric diseases, immunology, and disease-related biology, including rare disorders.