Although U.S. stocks closed mixed on Wednesday, 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.

Zevra Therapeutics

• The Trade: Zevra Therapeutics, Inc. (NASDAQ:ZVRA) CFO & Treasurer R. Laduane Clifton acquired a total of 2,000 shares at an average price of $6.77. To acquire these shares, it cost around $13,540.
• What's Happening: On July 9, HC Wainwright & Co. analyst Oren Livnat reiterated Zevra Therapeutics with a Buy and maintained a $15 price target.
• What Zevra Therapeutics Does: Zevra Therapeutics Inc is a rare disease company combining science, data, and patient needs to create transformational therapies for diseases with limited or no treatment options.

Citi Trends

• The Trade: Citi Trends, Inc. (NASDAQ:CTRN) 10% owner Pleasant Lake Partners LLC acquired a total of 3,000 shares at an average price of $20.06. To acquire these shares, it cost around $60,176.
• What's Happening: On June 4, Citi Trends posted a narrower-than-expected quarterly loss.
• What Citi Trends Does: Citi Trends Inc is a retailer of urban fashion apparel and accessories in the United States.

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