$10M Bet On ArriVent BioPharma? Check Out These 4 Stocks Insiders Are Buying

Although U.S. stocks closed higher on Thursday, 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.

Vera Therapeutics

• The Trade: Vera Therapeutics, Inc. VERA Director Maha Katabi acquired a total of 161,290 shares an average price of $31.00. To acquire these shares, it cost around $5 million.
• What’s Happening: Vera Therapeutics priced its upsized public offering of 8,064,517 class a common stock at $31 per share.
• What Vera Therapeutics Does: Vera Therapeutics Inc is a clinical stage biotechnology company. It is focused on developing and commercializing transformative treatments for patients with serious immunological diseases.

ArriVent BioPharma

• The Trade: ArriVent BioPharma, Inc. AVBP 10% owner HHLR ADVISORS, LTD. acquired a total of 4,484,672 shares at an average price of $18.00. To acquire these shares, it cost around $10 million.
• What’s Happening: ArriVent BioPharma priced its upsized initial public offering of 9,722,222 common shares at $18 per share.
• What ArriVent BioPharma Does: ArriVent BioPharma Inc is a clinical-stage biopharmaceutical company dedicated to the identification, development and commercialization of differentiated medicines to address the unmet medical needs of patients with cancers.

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KalVista Pharmaceuticals

• The Trade: KalVista Pharmaceuticals, Inc. KALV 10% owner Nimish Shah bought a total of 88,099 shares at an average price of $14.47. To acquire these shares, it cost around $1.27 million.
• What’s Happening: KalVista Pharma, during December, announced publication of first oral factor XIIa data in Frontiers in Pharmacology.
• What KalVista Pharmaceuticals Does: KalVista Pharmaceuticals Inc is a pharmaceutical company, which focuses on the discovery, development, and commercialization of small molecule protease inhibitors for a range of diseases.

Cleveland-Cliffs

• The Trade: Cleveland-Cliffs Inc. CLF Director Ron Bloom bought a total of 25,000 shares at an average price of $20.24. The insider spent around $506,095 to buy those shares.
• What’s Happening: Cleveland-Cliffs reported quarterly adjusted losses of five cents per share, falling short of analyst expectations of losses of four cents by 25%.
• What Cleveland-Cliffs Does: Cleveland-Cliffs Inc is a flat-rolled steel producer and manufacturer of iron ore pellets in North America. It has one reportable segment -Steelmaking.

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