Notable Insider Buys Of The Past Week: Affirm, HEICO, Vector Group, Biotechs, And More

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Conventional wisdom says that insiders and 10% owners really only buy shares of a company for one reason -- they believe the stock price will rise and they want to profit from it. So insider buying can be an encouraging signal for potential investors, particularly when there is uncertainty in the markets. Note that with earnings reporting season in full swing, buy windows for many insiders are closed.

Here are some of the most noteworthy insider purchases that were reported in the past week.

Biotech company Aldeyra Therapeutics Inc. (ALDX) saw a 10% owner return and add almost 1.37 million shares to its stake. At a secondary offering price of $9.50 per share, the transaction totaled about $13 million. The stock closed most recently at $12.29 a share, after hitting a 52-week high of $14.62 earlier in the week. It is up about 79% year-to-date.

Cancer-testing products maker OncoCyte Corp. (OCX) also had a 10% owner increase its stake last week. The more than 1.46 million shares acquired, at an offering price of about $3.42, added up to approximately $5 million. That raised that owner's stake to more than 16.17 million shares, compared to a total float of more than 57 million. The stock closed most recently at $4.76 per share, which is more than 39% higher than the purchase price.

A beneficial owner took advantage of the Affirm Holdings Inc. (AFRM) initial public offering, indirectly acquiring 75,000 shares at $49 apiece. That totaled less than $3.68 million. CNBC host Jim Cramer discussed the fintech's IPO, as shares had doubled in price. They were changing hands at $119.95 as last week came to a close, up about 10% on the day and more than 25% since going public. Note that Peter Thiel is one of the founders of the fund that made this purchase.

Driven Brands Holdings Inc. (DRVN) saw two executives acquire more than 32,200 shares altogether. Prices ranged from $26.98 per share to $30.08, which was above the recent IPO price of $22. The transactions totaled over $953,500. Shares of the Charlotte, North Carolina-automotive repair and maintenance services provider were last seen trading at $29.79 apiece. That compares with the post-IPO high of $32.95 a share.

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Disclaimer: At the time of this writing, the author had no position in the mentioned equities.

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