"In the past week or so, some initial public offerings prompted big insider buying. One was a biopharmaceutical company and another a cybersecurity firm, each with beneficial owners scooping up shares. A coal miner also saw one of its directors boosting a stake. And a couple of chief executives made some notable purchases as well. Let's take a quick look at these notable transactions in the past couple of weeks."
"Is Insider Buying Important? A well-known adage reminds us that corporate insiders and 10% owners really only buy shares of a company because they believe the stock price will rise and they want to profit from it. Thus, insider buying can be an encouraging signal for potential investors. This is all the more so during times of uncertainty in the markets, and even when markets are near all-time highs."
Several recent IPOs saw significant insider buying, including purchases in a biopharmaceutical company and a cybersecurity firm. A coal mining company experienced a director increasing a stake, and several chief executives made notable purchases. Insider buying often indicates that insiders and 10% owners expect share prices to rise and seek profit, making it an encouraging signal for investors, especially amid market uncertainty and near-record market levels. With the second-quarter earnings season concluded, insiders are generally free to trade until the next reporting period. Notable transactions include LB Pharmaceuticals IPO shareholders and ICONIQ Strategic Partners VI purchasing 6.0 million Netskope shares at $19 each.
Read at 24/7 Wall St.
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