Around $88M Bet On NextDecade? Check Out These 3 Stocks Insiders Are Buying
Author: Avi Kapoor | August 01, 2024 08:47am
Although U.S. stocks closed higher on Thursday, 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.
NextDecade
- The Trade: NextDecade Corporation (NASDAQ:NEXT) 10% owner Hanwha Ocean Co., Ltd acquired a total of 11,690,909 shares at an average price of $7.50. To acquire these shares, it cost around $87.7 million.
- What's Happening: On July 22, NextDecade named Tarik Skeik as Chief Operating Officer.
- What NextDecade Does: NextDecade Corp is a energy company predominantly engaged in construction and development activities related to the liquefaction of natural gas and sale of LNG and the capture and storage of CO2 emissions.
Adverum Biotechnologies
- The Trade: Adverum Biotechnologies, Inc. (NASDAQ:ADVM) 10% owner Braden Michael Leonard acquired a total of 85,800 shares at an average price of $7.15. To acquire these shares, it cost around $613,470..
- What's Happening: On Aug. 1, Adverum Biotechnologies announced FDA Regenerative Medicine Advanced Therapy (RMAT) designation granted for Ixo-vec for the treatment of Wet AMD.
- What Adverum Biotechnologies Does: Adverum Biotechnologies Inc is a U.S.-based clinical-stage gene therapy company.
Texas Capital Bancshares
- The Trade: Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Director Robert W Stallings bought a total of 20,000 shares at an average price of $20.47. To acquire these shares, it cost around $409,300.
- What's Happening: On July 18, Texas Capital Bancshares reported worse-than-expected second-quarter financial results.
- What Texas Capital Bancshares Does: Texas Capital Bancshares Inc is a secured lender, with the majority of the loans held for investment, excluding mortgage finance loans and other national lines of business.
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Posted In: ADVM NEXT TCBI
