$20M Bet On This Biotechnology Stock? 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.

Cerevel Therapeutics

• The Trade: Cerevel Therapeutics Holdings, Inc. CERE Director Joseph Edelman acquired a total of 876,808 shares an average price of $22.81. To acquire these shares, it cost around $20 million.
• What’s Happening: Cerevel Therapeutics priced $450 million public offering of 19,728,189 common shares at $22.81 per share.
• What Cerevel Therapeutics Does: Cerevel Therapeutics Holdings Inc is dedicated to unraveling the mysteries of the brain to treat neuroscience diseases.

Lamb Weston Holdings

• The Trade: Lamb Weston Holdings, Inc. LW Director William Jurgensen acquired a total of 5,043 shares at an average price of $84.35. To acquire these shares, it cost around $253,050.
• What’s Happening: Lamb Weston provided long-term financial targets, reiterated the FY24 outlook, and boosted share repurchase authorization.
• What Lamb Weston Holdings Does: Lamb Weston is the world's second-largest producer of branded and private-label frozen potato products, such as French fries, sweet potato fries, tater tots, diced potatoes, mashed potatoes, hash browns, and chips.

Don’t forget to check out our premarket coverage here

RE/MAX Holdings

• The Trade: RE/MAX Holdings, Inc. RMAX 10% owner Magnolia Group LLC bought a total of 51,850 shares at an average price of $10.86. To acquire these shares, it cost around $563,091.
• What’s Happening: RE/MAX Hldgs posted in-line earnings for the second quarter.
• What RE/MAX Holdings Does: RE/MAX Holdings Inc operates as a franchisor of real estate brokerage services. It recruits and retains agents and sells franchises.

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