U.S. stocks saw notable insider trades on Thursday, indicating confidence in the market. Insiders buying shares is a sign of belief in a company’s potential, which can pique the curiosity of potential investors. It’s a bit like seeing someone famous dining in a restaurant you’ve been eyeing. Their choice may not guarantee a great meal, but it’s likely to catch your interest. Insider trades are just a single element to ponder, never a solo indicator to guide a financial decision. At most, they can add weight to a buying inclination. After all, if a fisherman is casting his net in one particular part of the pond, there’s likely a good reason why.
Let’s explore some recent notable insider purchases in the market. For more insider transactions, visit Benzinga’s insider transactions platform.
Tile Shop
- The Pickup: Tile Shop Holdings, Inc. TTSH 10% owner Pleasant Lake Partners LLC purchased a total of 14,600 shares at an average price of $6.73, totaling around $98,288.
- What’s Going On: Tile Shop Holdings recently reported lower-than-expected quarterly sales.
- About Tile Shop: Tile Shop Holdings Inc is a specialty retailer of natural stone and man-made tiles, setting and maintenance materials, and related accessories in the United States.
Edgewise Therapeutics
- The Transaction: Edgewise Therapeutics, Inc. EWTX Director Peter A Thompson procured a total of 454,545 shares at an average price of $11.00, amounting to around $5 million.
- What’s Happening: Edgewise Therapeutics announced the pricing of its $240 million underwritten offering of 21,818,182 shares at $11 per share.
- About Edgewise Therapeutics: Edgewise Therapeutics Inc is a clinical-stage biopharmaceutical company focused on the discovery, development, and commercialization of innovative treatments for severe, rare muscle disorders.
Wolfspeed
- The Trade: Wolfspeed, Inc. WOLF Director Thomas H Werner bought a total of 683 shares at an average price of $32.05, totaling around $21,889.
- What’s Happening: Wolfspeed and Infineon announced the expansion and extension of their existing long-term 150mm silicon carbide wafer supply agreement.
- About Wolfspeed: Wolfspeed Inc is involved in the manufacturing of wide bandgap semiconductors, focused on silicon carbide and gallium nitride materials and devices for power and radio-frequency (RF) applications.
