Around $4M Bet On This Healthcare Stock? Check Out These 3 Stocks Insiders Are Buying

Although U.S. stocks closed mostly lower 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.

Impinj

• The Trade: Impinj, Inc. PI Director Patrick Daniel Gibson acquired a total of 79,370 shares an average price of $66.11. To acquire these shares, it cost around $5.25 million.
• What’s Happening: Impinj posted upbeat second-quarter results.
• What Impinj Does: Impinj Inc operates a platform that enables wireless connectivity to everyday items by delivering each item's identity, location, and authenticity to business and consumer applications.

Energy Transfer

• The Trade: Energy Transfer LP ET Co-CEO Marshall McCrea III acquired a total of 50,000 shares at an average price of $13.64. To acquire these shares, it cost around $682,000.
• What’s Happening: Energy Transfer penned a merger agreement to acquire Crestwood Equity Partners LP in an all-equity of around $7.1 billion.
• What Energy Transfer Does: Energy Transfer owns a large platform of crude oil, natural gas, and natural gas liquid assets primarily in Texas and the U.S. midcontinent region.

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Mirum Pharmaceuticals

• The Trade: Mirum Pharmaceuticals, Inc. MIRM Director Patrick Heron bought a total of 147,991 shares at an average price of $26.25. To acquire these shares, it cost around $3.88 million.
• What’s Happening: Mirum Pharmaceuticals posted a wider-than-expected quarterly loss.
• What Mirum Pharmaceuticals Does: Mirum Pharmaceuticals Inc is a biopharmaceutical company focused on the identification, acquisition, development, and commercialization of novel therapies for debilitating rare and orphan diseases.

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