The Past Week's Notable Insider Buys: More Biotech IPOs, Bumble, Fiserv, And More

The Past Week's Notable Insider Buys: More Biotech IPOs, Bumble, Fiserv And More

Photo credit: TechCrunch, via Wikimedia Commons

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 or the markets are at near all-time highs.

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

Talis Biomedical Corp (TLIS) saw its chief financial officer acquire almost 1,700 shares in its initial public offering, while other insiders bought more than 6.63 million shares altogether. At an offering price of $16.00 per share, the total for all these purchases came to over $106.22 million.

Decibel Therapeutics Inc (DBTX) had a 10% owner and two directors buy shares of in its IPO. The more than 2.39 million shares acquired, at $18.00 apiece, totaled nearly $43.05 million. The stock has traded as high as $24.39 so far, but it closed most recently at $19.05 per share.

CEO Whitney Wolfe Herd acquired more than 488,300 Bumble Inc (BMBL) shares at the IPO price of $43.00, while another director afterward bought over 6,500 shares at an average share price of $76.23. Altogether, those transactions added up to almost $21.50 million.

A 10% owner picked up more than 1.18 million shares of Molecular Templates Inc (MTEM) last week. That cost that owner approximately $15.00 million, at the per-share price of $12.65. That same beneficial owner also purchased 80,000 of the shares at the beginning of this month.

Following a better-than-expected earnings report, a beneficial owner bought around 288,000 Prothena Corporation PLC (PRTA) shares for $22.77 to $23.47 apiece. The total for that was more than $6.69 million. Note that an officer sold 7,540 shares last week, as well.

Anterix Inc (ATEX) saw a 10% owner add to its stake at a time when other insiders were selling the shares. The almost 151,100 shares that owner acquired, at prices ranging from $41.85 to $43.41 apiece, totaled more than $6.48 million. The stock was last seen trading at $43.92 a share.

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

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights ...

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