Although US 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.
Appian
- The Trade: Appian Corporation APPN 10% owner Colin Moran acquired a total of 6,444 shares an average price of $43.65. To acquire these shares, it cost around $281.28 thousand.
- What’s Happening: Appian recently entered into supply arrangement with the Government of Canada.
- What Appian Does: Appian Corp provides a low-code software development platform as a service that enables organizations to rapidly develop powerful and unique applications.
Rani Therapeutics Holdings
- The Trade: Rani Therapeutics Holdings, Inc. RANI 10% owner South Lake One LLC acquired a total of 3,587 shares at an average price of $5.23. To acquire these shares, it cost around $18.75 thousand.
- What’s Happening: Rani Therapeutics posted in-line Q4 loss.
- What Rani Therapeutics Does: Rani Therapeutics Holdings Inc is a clinical-stage biotherapeutics company advancing technologies to enable the development of orally administered biologics.
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Sonida Senior Living
- The Trade: Sonida Senior Living, Inc. SNDA 10% owner Sam Levinson bought a total of 7,023 shares at an average price of $6.97. To acquire these shares, it cost around $48.97 thousand. The company’s other Directors also purchased the company’s shares.
- What’s Happening: Sonida Senior Living reported worse-than-expected Q4 EPS and sales results.
- What Sonida Senior Living Does: Sonida Senior Living Inc is an owner-operator of senior housing communities in the United States in terms of resident capacity.
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