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.

Riley Exploration Permian

The Trade: Riley Exploration Permian, Inc. REPX 10% owner Gerald Alvin Libin, Balmon Investments Ltd acquired a total of 15901 shares at an average price of $25.97. To acquire these shares, it cost $413,001.00.

What’s Happening: The company, during August, reported upbeat quarterly sales.

What Riley Exploration Permian Does: Riley Exploration Permian Inc is engaged in the business of exploration for and production of oil and natural gas. The company operations are in Kansas Properties, Tennessee Properties, among others.

Graphite Bio

The Trade: Graphite Bio, Inc. GRPH 10% owner Samsara Biocapital Lp, Srinivas Akkaraju acquired a total of 50800 shares at an average price of $13.14. To acquire these shares, it cost $667,665.00.

What’s Happening: Graphite Bio recently presented preclinical data supporting GPH101 in sickle cell disease at 49th Annual Sickle Cell Disease Association of America National Convention.

What Graphite Bio Does: Graphite Bio Inc is a clinical-stage gene-editing company harnessing gene integration to develop a new class of therapies to cure serious and life-threatening diseases.

Cognition Therapeutics

The Trade: Cognition Therapeutics, Inc. CGTX 10% owner Bios Memory Spv I Lp bought a total of 3912932 shares at an average price of $10.21. The insider spent $2,281,071.84 to buy those shares. The insider also disposed a total of 90.28 shares.

What’s Happening: The company, earlier during the month, priced its IPO at $12 per share

What Cognition Therapeutics Does: Cognition Therapeutics Inc is a clinical-stage biopharmaceutical company engaged in the discovery and development of innovative, small molecule therapeutics targeting age-related degenerative diseases and disorders of the central nervous system and retina.