Over $25M Bet On This Biotechnology Stock? Check Out These 3 Stocks Insiders Are Buying

Although US stocks closed higher on Monday, 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.

Ambrx Biopharma

• The Trade: Ambrx Biopharma Inc. AMAM 10% owner Cormorant Private Healthcare Fund III LP acquired a total of 2,597,896 shares an average price of $9.75. To acquire these shares, it cost around $25.32 million.
• What’s Happening: Baird maintained Ambrx Biopharma with an Outperform and raised the price target from $11 to $12.
• What Ambrx Biopharma Does: Ambrx Biopharma Inc is a clinical-stage biologics company focused on discovering and developing a novel class of engineered precision biologics (EPBs) using its proprietary expanded genetic code technology platform that allows incorporating synthetic amino acids (SAAs) into proteins within living cells.

Alta Equipment Group

• The Trade: Alta Equipment Group Inc. ALTG 10% owner Bryant Riley acquired a total of 84,000 shares at an average price of $13.76. To acquire these shares, it cost around $1.16 million.
• What’s Happening: Alta Equipment posted in-line Q4 earnings.
• What Alta Equipment Group Does: Alta Equipment Group Inc is an integrated equipment dealership platform in the U.S. Its segments are Material Handling and Construction Equipment.

Don’t forget to check out our premarket coverage here

Tilly's

• The Trade: Tilly's, Inc. TLYS 10% owner Pleasant Lake Partners LLC bought a total of 177,930 shares at an average price of $7.64. To acquire these shares, it cost around $1.36 million.
• What’s Happening: Tilly's posted a profit for the fourth quarter.
• What Tilly's Does: Tilly's Inc works as a specialty retailer of casual apparel, footwear, and accessories for young men, young women, boys, and girls.

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