$16M Bet On This Biotechnology Stock? Check Out These 3 Stocks Insiders Are Buying

Although U.S. 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.

Mercury Systems

• The Trade: Mercury Systems, Inc. MRCY 10% owner Jana Partners LLC acquired a total of 50,000 shares an average price of $38.05. To acquire these shares, it cost around $1.9 million. The company’s other Directors also purchased the company’s shares.
• What’s Happening: Mercury Systems reported worse-than-expected fourth-quarter financial results.
• What Mercury Systems Does: Mercury Systems Inc is a commercial technology company serving the aerospace and defense industry.

AN2 Therapeutics

• The Trade: AN2 Therapeutics, Inc. ANTX 10% owner Rajeev Shah acquired a total of 1,777,778 shares at an average price of $9.00. To acquire these shares, it cost around $16 million.
• What’s Happening: AN2 Therapeutics posted a wider quarterly loss.
• What AN2 Therapeutics Does: AN2 Therapeutics Inc is a clinical-stage biopharmaceutical company developing treatments for rare, chronic, and serious infectious diseases with high unmet needs.

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B. Riley Financial

• The Trade: B. Riley Financial, Inc. RILY Chairman and Co-CEO Bryant R Riley bought a total of 25,000 shares at an average price of $47.31. To acquire these shares, it cost around $1.18 million.
• What’s Happening: B. Riley Financial posted a profit for the second quarter.
• What B. Riley Financial Does: B. Riley Financial Inc is a diversified financial services company. The company through its subsidiaries offers investment banking and financial services to corporate, institutional and high net worth clients and also asset disposition, valuation and appraisal and capital advisory services to retail, wholesale, institutional, lenders, capital providers, private equity investors, and professional services firms in United States, Canada, and Europe.

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