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Notable Insider Buys Of The Past Week: Conagra Brands Plus Plenty Of Biotech Activity

Notable Insider Buys Of The Past Week: Conagra Brands Plus Plenty Of Biotech Activity



Insider buying can be an encouraging signal for potential investors, especially when markets face uncertainty.




Insiders were taking advantage of secondary offerings as the new year settled in.




Biotech companies are well represented on this list of insider share purchases.




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.

Clinical-stage biopharmaceutical company Fate Therapeutics Inc (NASDAQ:FATE) had a 10% owner increase its stake at a time when the chief executive and other officers were selling shares. The more than 327,400 shares acquired, at a public offering price of $85.50 apiece, added up to nearly $28.00 million. That raised that owner's stake to more than 12.95 million shares, compared to a total float of more than 85 million. Shares closed most recently at $113.59.

Biotech company Aldeyra Therapeutics Inc (NASDAQ:ALDX) saw a 10% owner recently add 1.05 million shares to their stake. At $7.49 to $10.43 per share, the transactions totaled more than $9.20 million. The stock closed most recently at $13.37, which is above the purchase price range. Note that this Lexington, Massachusetts-based company also announced a secondary offering of shares at $9.50 apiece.

A director acquired nearly 33,900 DermTech Inc (NASDAQ:DMTK) shares last week at a secondary offering price of $29.50 apiece. In the prior week, a 10% owner bought 200,000 shares at the same price. All these purchases added up to about $6.90 million. This diagnostics company said its non-invasive genomic patch testing for melanoma had received a recommendation from the National Comprehensive Cancer Network. The stock popped more than 12% in the week's trading and closed Friday at $39.00.
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