U.S. stocks closed mixed on Thursday, but notable insider trades took place.
Insider purchases signal confidence in the company’s prospects or view the stock as a bargain. This could present a lucrative opportunity for investors. However, insider purchases should not be the sole reason for making investment decisions.
Here are a few recent notable insider purchases:
Dyne Therapeutics
- The Trade: Dyne Therapeutics, Inc. 10% owner Dirk Kersten acquired 1,714,285 shares at an average price of $17.50, totaling around $30 million.
- What’s Happening: Dyne Therapeutics recently priced a $300 million public offering of 17.15 million common stock at $17.50 per share.
- What Dyne Therapeutics Does: Dyne Therapeutics Inc is a bio-technology company focused on providing therapeutics for patients with genetically driven diseases.
EyePoint Pharmaceuticals
- The Trade: EyePoint Pharmaceuticals, Inc. 10% owner Cormorant Global Healthcare Master Fund LP acquired 855,000 shares at an average price of $19.94, totaling around $17.05 million.
- What’s Happening: EyePoint recently announced the dosing of the first patient in Phase 2 VERONA clinical trial of EYP-1901 for diabetic macular edema.
- What EyePoint Pharmaceuticals Does: EyePoint Pharmaceuticals Inc is a pharmaceutical company engaged in developing and commercializing ophthalmic products for the treatment of eye diseases.
Agree Realty
- The Trade: Agree Realty Corporation Director, Executive Chairman of the Board Richard Agree bought 10,500 shares at an average price of $62.57, totaling around $656,985.
- What’s Happening: Mizuho recently maintained Agree Realty with a Neutral rating and raised the price target from $61 to $65.
- What Agree Realty Does: Agree Realty Corporation operates as a fully integrated real estate investment trust mainly focused on the ownership, acquisition, development, and management of retail properties net leased to industry-leading tenants.
