$4M Bet On This Health Care Stock? Check Out These 3 Stocks Insiders Are Buying

Author: Avi Kapoor | June 04, 2024 09:11am

Although U.S. stocks closed mixed on Monday, 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.

DENTSPLY SIRONA

The Trade: DENTSPLY SIRONA Inc. (NASDAQ:XRAY) Director Gregory T Lucier acquired a total of 3,577 shares at an average price of $27.95. To acquire these shares, it cost around $99,976.
What's Happening: On May 2, the company reported adjusted earnings per share of 42 cents, in line with the street view.
What DENTSPLY SIRONA Does: Dentsply Sirona is one of the world’s largest manufacturers of dental equipment and supplies.

CARGO Therapeutics

The Trade: CARGO Therapeutics, Inc. (NASDAQ:CRGX) 10% owner Srinivas Akkaraju acquired a total of 294,000 shares at an average price of $17.00. To acquire these shares, it cost around $5 million.
What's Happening: On May 28, CARGO Therapeutics announced it entered into a securities purchase agreement for a private investment in public equity financing that is expected to result in gross proceeds of approximately $110.0 million.
What CARGO Therapeutics Does: Cargo Therapeutics Inc is a clinical-stage biotechnology company positioned to advance next generation, potentially curative cell therapies for cancer patients.

Wintrust Financial

The Trade: Wintrust Financial Corporation (NASDAQ:WTFC) Director, Founder and Senior Advisor Edward J Wehmer bought a total of 1,197 shares at an average price of $24.64. To acquire these shares, it cost around $29,489.
What's Happening: On April 17, Wintrust Finl posted upbeat quarterly earnings.
What Wintrust Financial Does: Wintrust Financial Corp is a financial holding company operating in the Chicago metropolitan area and southern Wisconsin through its wholly-owned banking subsidiaries.

Posted In: CRGX WTFC XRAY