3 Stocks Insiders Are Buying

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.

Myovant Sciences

The Trade: Myovant Sciences Ltd. MYOV 10% owner Sumitomo Chemical Co Ltd, Dainippon Sumitomo Pharma Co Ltd, Sumitovant Biopharma Ltd acquired a total of 103102 shares at an average price of $25.60. The insider spent $2,638,920.66 to acquire those share.

What’s Happening: Myovant Sciences, last month, appointed Uneek Mehra as Chief Financial and Business Officer.

What Myovant Sciences Does: Myovant Sciences is a healthcare company focused on redefining care for women and for men.

Sensient Technologies

The Trade: Sensient Technologies Corporation SXT 10% owner Winder Investment Pte Ltd, Haldor Foundation, Freemont Capital Pte Ltd acquired a total of 60000 shares at an average price of $87.84. To acquire these shares, it cost $5,270,220.00.

What’s Happening: The company’s shares have jumped over 20% since the start of the year.

What Sensient Technologies Does: Sensient Technologies manufactures and markets natural and synthetic colors, flavors, and flavor extracts.

Wheels Up Experience

The Trade: Wheels Up Experience Inc. UP Director David J Adelman bought a total of 100000 shares at an average price of $7.54. The insider spent $754,000.00 to acquire those shares.

What’s Happening: Raymond James recently initiated coverage on Wheels Up Experience with an Outperform rating and announced a price target of $10.

What Wheels Up Experience Does: Wheels Up Experience is the provider of on-demand private aviation in the United States.