Although U.S. stocks closed mixed 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.
Hallador Energy
- The Trade: Hallador Energy Company (NASDAQ:HNRG) Director Zarrell Gray acquired a total of 20,000 shares at an average price of $5.70. To acquire these shares, it cost around $114,000.
- What's Happening: On Aug. 6, Hallador Energy reported worse-than-expected second-quarter financial results.
- What Hallador Energy Does: Hallador Energy Co is a coal mining company with operations in Indiana, USA, and it is part of the electric power generation industry.
Texas Capital Bancshares
- The Trade: Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Director Robert W Stallings acquired a total of 28,813 shares at an average price of $20.15. To acquire these shares, it cost around $580,737.
- What's Happening: On Aug. 1, Texas Capital named Todd Jordan to serve as Austin Market President and Leader of Austin Middle Market Banking.
- What Texas Capital Bancshares Does: Texas Capital Bancshares Inc is a secured lender, with the majority of the loans held for investment, excluding mortgage finance loans and other national lines of business.
Inhibrx Biosciences
- The Trade: Inhibrx Biosciences, Inc. (NASDAQ:INBX) Director Douglas Forsyth bought a total of 75,000 shares at an average price of $13.83. To acquire these shares, it cost around $1.04 million.
- What's Happening: On Aug. 13, Inhibrx Biosciences posted second-quarter EPS of $125.48.
- What Inhibrx Biosciences Does: Inhibrx Biosciences Inc is a clinical-stage biopharmaceutical company with a pipeline of novel biologic therapeutic candidates, developed using its proprietary modular protein engineering platforms.
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