$7.5 Million Bet On This Biotechnology Stock? Check Out These 3 Stocks Insiders Are Buying

Although US stocks closed mostly higher 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.

Design Therapeutics

• The Trade: Design Therapeutics, Inc. DSGN Director Simeon George acquired a total of 900,000 shares an average price of $8.42. To acquire these shares, it cost around $7.57 million.
• What’s Happening: SVB Leerink recently maintained Design Therapeutics with an Outperform and lowered the price target from $30 to $22.
• What Design Therapeutics Does: Design Therapeutics Inc is a preclinical-stage biopharmaceutical company.

Flowers Foods

• The Trade: Flowers Foods, Inc. FLO Director Caldecot Thomas Chubb III acquired a total of 2,000 shares at an average price of $28.42. To acquire these shares, it cost around $56.84 thousand.
• What’s Happening: Flowers Foods recently announced a definitive agreement to acquire Papa Pita Bakery, a manufacturer and distributor of high-quality bagels, tortillas, breads, buns, English muffins, and flat breads.
• What Flowers Foods Does: Flowers Foods Inc is an American company producing bakery food for retail and foodservice across the United States. The product portfolio includes fresh breads, buns, rolls, snack cakes, and tortillas.

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Also check this: Why Fear Level Among US Investors Is Increasing

B. Riley Financial

• The Trade: B. Riley Financial, Inc. RILY Director Michael Joseph Sheldon bought a total of 10,026 shares at an average price of $39.86. To acquire these shares, it cost around $399.63 thousand.
• What’s Happening: B. Riley Financial, last month, said Q3 EPS results up from last year.
• What B. Riley Financial Does: B. Riley Financial Inc is a diversified financial services company.