4 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.

Prothena

• The Trade: Prothena Corporation plc PRTA 10% owner Ecor Capital Llc acquired a total of 300000 shares at an average price of $37.50. To acquire these shares, it cost $11,250,300.00.
• What’s Happening: The company’s stock dropped 15% over the past month.
• What Prothena Does: Prothena Corp PLC is a biotechnology company focuses on the discovery, development, and commercialization of novel protein immunotherapies for the treatment of diseases that involve protein misfolding and inflammatory cell adhesion disorders.

Academy Sports and Outdoors

• The Trade: Academy Sports and Outdoors, Inc. ASO Director Brian Marley acquired a total of 10000 shares at an average price of $39.46. To acquire these shares, it cost $394,600.00.
• What’s Happening: Goldman Sachs, last month, upgraded Academy Sports from Neutral to Buy and raised the price target from $47 to $58.
• What Academy Sports and Outdoors Does: Academy Sports and Outdoors Inc is engaged in the retail business of sporting goods and outdoor recreation products.

AngioDynamics

• The Trade: AngioDynamics, Inc. ANGO President and CEO James Clemmer bought a total of 10000 shares at an average price of $22.84. To acquire these shares, it cost $228,400.00.
• What’s Happening: The company recently posted a loss for the second quarter.
• What AngioDynamics Does: AngioDynamics Inc designs, manufactures and sells medical, surgical and diagnostic devices used by professional healthcare providers for the treatment of peripheral vascular disease and for use in oncology and surgical settings.

Spero Therapeutics

• The Trade: Spero Therapeutics, Inc. SPRO 10% owner Aquilo Capital Lp bought a total of 8867 shares at an average price of $12.93. The insider spent $114,608.64 to buy those shares.
• What’s Happening: The FDA recently lifted the clinical hold on Spero Therapeutics’ Phase 2 trial of SPR720 for nontuberculous mycobacterial (NTM) disease.
• What Spero Therapeutics Does: Spero Therapeutics Inc is a clinical-stage biopharmaceutical firm. It focuses on identifying, developing and commercializing novel treatments for MDR (Multi-drug-resistant) bacterial infections and rare diseases.