Over $5M Bet On Asana? Check Out These 3 Stocks Insiders Are Buying

Although U.S. stocks closed lower on Thursday following the CPI data, 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 Chair Dustin Moskovitz acquired a total of 283,204 shares an average price of $18.07. To acquire these shares, it cost around $5.12 million.
• What’s Happening: UBS initiated coverage on Asana with a Neutral rating and announced a price target of $20.
• 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.

Cosmos Health

• The Trade: Cosmos Health Inc. COSM CEO Grigorios Siokas acquired a total of 6,712 shares at an average price of $23.66. To acquire these shares, it cost around $158,806.
• What’s Happening: Cosmos Health announced that it entered into a purchase agreement to acquire Cloudscreen.
• What Cosmos Health Does: Cosmos Health Inc is engaged in the nutraceuticals sector through its own proprietary lines of products 'Sky Premium Life' and 'Mediterranation'.

Don’t forget to check out our premarket coverage here

iTeos Therapeutics

• The Trade: iTeos Therapeutics, Inc. ITOS CFO Matthew Gall bought a total of 5,000 shares at an average price of $8.37. To acquire these shares, it cost around 41,850.
• What’s Happening: ITeos Therapeutics posted a loss for the second quarter.
• What iTeos Therapeutics Does: ITeos Therapeutics Inc is a biopharmaceutical company engaged in the discovery and development of immuno-oncology therapeutics for patients.

Check This Out: Wall Street's Most Accurate Analysts Say Hold These 3 Health Care Stocks With Over 4% Dividend Yields