America’s stock market was a bit downbeat on Wednesday, but that doesn’t mean there wasn’t some noteworthy activity brewing in the undercurrents. Seismic transactions were detected
Insiders buying company shares might as well be them placing a $320 million bet on the poker table. Their moves whisper secrets about what could be coursing through their minds. It’s like catching a sly wink at a high-stakes game. It tells a story of confidence, or perhaps a bid for a good bargain. Either way, it’s a tantalizing spectacle for potential investors.
Now, let’s dive into the recent notable insider purchases. For an even deeper exploration, take a gander at Benzinga’s insider transactions platform.
Arcus Biosciences
- The Trade: Arcus Biosciences, Inc. RCUS 10% owner Gilead Sciences Inc acquired a total of 15,238,095 shares at an average price of $21.00. This acquisition came at a grand cost of approximately $320 million.
- What’s Happening: Arcus Biosciences caught Wedbush analyst Robert Driscoll’s attention recently. He maintained an Outperform rating but snagged the price target from $36 to $30.
- What Arcus Biosciences Does: Arcus Biosciences Inc is a clinical-stage biopharmaceutical company engaged in immunotherapy development for cancer treatment.
Peoples Financial
- The Trade: Peoples Financial Corporation PFBX CEO and President, Chevis Swetman, snapped up a total of 5,212 shares at an average price of $15.65. The price tag for this acquisition hovered around $81,568.
- What’s Happening: The company announced that its net income for the fourth quarter stood at $1,723,000, a trim slice from the previous year’s $5,250,000.
- What Peoples Financial Does: Peoples Financial Corp holds the fort as a bank holding company, catering to banking, financial, and trust services for individuals and businesses in Mississippi, Louisiana, and Alabama.
By the way, have you checked out our premarket coverage?
AMREP
- The Trade: AMREP Corporation AXR 10% owner Rainey Lancaster acquired a total of 44,551 shares at an average price of $20.00. This shopping spree rang up a bill of around $891,020.
- What’s Happening: AMREP recently reported a dip in quarterly sales.
- What AMREP Does: AMREP Corp, through its subsidiaries, specializes in the real estate business.
Take a peek at our Top 5 Energy Stocks That May Crash This Quarter
