Around $3M Bet On This Energy Stock? Check Out These 3 Stocks Insiders Are Buying

Author: Avi Kapoor | August 02, 2024 08:43am

Although U.S. stocks closed lower 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.

Talos Energy

• The Trade: Talos Energy Inc. (NYSE:TALO) 10% owner Control Empresarial de Capitales S.A. de C.V acquired a total of 250,000 shares at  an average price of $11.40. To acquire these shares, it cost around $2.9 million.
• What's Happening: On July 22, Goldman Sachs analyst Neil Mehta initiated coverage on Talos Energy with a Buy rating and announced a price target of $14.
• What Talos Energy Does: Talos Energy Inc is an independent oil and gas company predominantly involved in offshore exploration and production.

Vaccinex

• The Trade: Vaccinex, Inc. (NASDAQ:VCNX) 10% owner FCMI Parent Co acquired a total of 200,000 shares at </em></a> an average price of $6.15. To acquire these shares, it cost around $1.2 million.
• What's Happening: On July 31, the company announced results of its early stage SIGNAL-AD clinical trial of pepinemab antibody in AD.
• What Vaccinex Does: Vaccinex Inc is pioneering a differentiated approach to treating cancer and slowly progressive neurodegenerative diseases through the inhibition of semaphorin 4D (SEMA4D).

Darling Ingredients

• The Trade: Darling Ingredients Inc. (NYSE:DAR) EVP Chief Strategy Officer Robert W Day bought a total of 2,532 shares at an average price of $39.37. To acquire these shares, it cost around $99,685.
• What's Happening: On July 31, Darling Ingredients reported a sustainable aviation fuel contract through Diamond Green Diesel Joint Venture.
• What Darling Ingredients Does: Darling Ingredients Inc develops and manufactures sustainable ingredients for customers in the pharmaceutical, food, pet food, fuel, and fertilizer industries

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Posted In: DAR TALO VCNX