$5 Million Bet On Lifecore Biomedical? Check Out These 4 Stocks Insiders Are Buying

Although US stocks closed mostly lower on Tuesday, 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.

HireRight Holdings

• The Trade: HireRight Holdings Corporation HRT 10% owner General Atlantic (SPV) GP (Bermuda), LLC acquired a total of 591,824 shares an average price of $11.85. To acquire these shares, it cost around $7.01 million.
• What’s Happening: HireRight recently announced a $100 million share repurchase program.
• What HireRight Holdings Does: HireRight Holdings Corp is a global provider of technology-driven workforce risk management and compliance solutions.

scPharmaceuticals

• The Trade: scPharmaceuticals Inc. SCPH 10% owner OrbiMed Genesis GP LLC acquired a total of 762,380 shares at an average price of $5.25. To acquire these shares, it cost around $4 million.
• What’s Happening: scPharmaceuticals recently announced pricing of $50 million public offering.
• What scPharmaceuticals Does: scPharmaceuticals Inc is a pharmaceutical company. Its pipeline includes products in various stages of clinical and non-clinical development.

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Lifecore Biomedical

• The Trade: Lifecore Biomedical, Inc. LFCR 10% owner Joshua Landes bought a total of 627,746 shares at an average price of $7.97. To acquire these shares, it cost around $5 million.
• What’s Happening: Lifecore Biomedical recently raises capital for growth with existing stockholder.
• What Lifecore Biomedical Does: Lifecore Biomedical, headquartered in Santa Maria, California, operates as an integrated contract development and manufacturing organization in the United States and internationally.

3D Systems

• The Trade: 3D Systems Corporation DDD President and CEO Jeffrey A Graves bought a total 20,000 shares at an average price of $9.60. The insider spent around $192 thousand to buy those shares.
• What’s Happening: 3D Systems recently expanded selective laser sintering portfolio through strategic partnership with Wematter.
• What 3D Systems Does: 3D Systems Corp provides comprehensive 3D printing and digital manufacturing solutions, including 3D printers for plastics and metals, materials, software, on-demand manufacturing services, and digital design tools.