Notable Insider Buys Of The Past Week: Danimer Scientific, Cheniere Energy Partners, And More

Notable Insider Buys Of The Past Week: Danimer Scientific, Cheniere Energy Partners 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, as there has been due to the pandemic resurgence and political issues.

Here are some of the most noteworthy insider purchases that were reported in the past week as the year concluded and investors reset for the new year.

Special purpose acquisition company (SPAC) Live Oak Acquisition Corp. (LOAK) saw a pair of 10% owners buy in to the merger that resulted in Danimer Scientific (DNMR). The 9.81 million shares they acquired altogether, at $10 per share, added up to $98.1 million. Shares of this bioplastics company ended the past week's trading at $23.51 apiece, which was more than twice the above purchase price.

Three directors ended the year by adding 628,000 Odonate Therapeutics Inc. (ODT) shares altogether to their stakes. They paid $16.75 to $17.72 each, which totaled more than $12.03 million. Note that CEO Kevin Tang stepped up to the buy window in the prior week, picking up over $4.18 million worth of shares of this San Diego-based company. The stock closed most recently at $19.20 a share.

Iqvia Holdings Inc. (IQV) recently saw a director indirectly acquire via trust more than $63,400 shares of this life sciences company. Prices averaged $176.95 per share, and the transactions totaled more than $11.22 million and raised the stake to over 137,400 shares. The stock closed trading most recently at $179.19, so this purchase appears to be fortunately timed. The share price is up more than 25% in the past six months.

A 10% owner indirectly purchased more than 73,300 Cheniere Energy Partners LP (CQP) shares at $32.97 to $34.35 apiece late last week. The total for those purchases added up to more than $2.49 million. Shares of this midstream oil and gas company ended the week's trading at $35.25, which is above the purchase price range above.

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

© 2020 Benzinga does not provide investment advice. All rights reserved.

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