$15M Bet On Day One Biopharmaceuticals? Check Out These 3 Stocks Insiders Are Buying

Although U.S. stocks closed lower on Friday, 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.

Day One Biopharmaceuticals

• The Trade: Day One Biopharmaceuticals, Inc. DAWN 10% owner Len Blavatnik acquired a total of 1,475,454 shares an average price of $10.15. To acquire these shares, it cost around $14.98 million.
• What’s Happening: Day One Biopharmaceuticals submitted rolling new drug application to the FDA for tovorafenib in relapsed or progressive pediatric low-grade glioma.
• What Day One Biopharmaceuticals Does: Day One Biopharmaceuticals Inc is a clinical-stage biopharmaceutical company. It is dedicated towards developing and commercializing targeted therapies for patients of all ages with genetically defined cancers.

Central Securities

• The Trade: Central Securities Corporation CET Vice President Andrew J. O'Neill acquired a total of 1,954 shares at an average price of $35.80. To acquire these shares, it cost around $69,947.
• What’s Happening: The company’s stock gained around 6% year-to-date.
• What Central Securities Does: Central Securities Corp is a non-diversified closed-end management investment company. Its investment objective is long-term growth of capital.

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 15,000 shares at an average price of $10.74. To acquire these shares, it cost around $161,100.
• 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.

Check This Out: Top 4 Health Care Stocks That May Rocket Higher This Month