$1M Bet On Biohaven? Check Out These 3 Stocks Insiders Are Buying

Although U.S. stocks closed lower on Friday, 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.

Biohaven

• The Trade: Biohaven Ltd. (NYSE:BHVN) Director John W Childs acquired a total of 28,400 shares at an average price of $35.67. To acquire these shares, it cost around $1.01 million.
• What's Happening: On July 1, Benitec Biopharma announced appointment of Kishen Mehta to its Board of Directors.
• What Biohaven Does: Biohaven Ltd is a clinical-stage biopharmaceutical company focused on the discovery, development, and commercialization of life-changing treatments in key therapeutic areas, including immunology, neuroscience, and oncology.

CSP

• The Trade: CSP Inc. (NASDAQ:CSPI) 10% owner Joseph R Nerges acquired a total of 2,726 shares at </em></a> an average price of $14.39. To acquire these shares, it cost around $39,235.
• What's Happening: On May 8, CSP reported an increase in EPS for the second quarter.
• What CSP Does: CSP Inc along with its subsidiaries develops and markets IT integration solutions, security products, managed IT services, cloud services, purpose-built network adapters, and high-performance cluster computer systems.

Pono Capital Two

• The Trade: Pono Capital Two, Inc. (NASDAQ:PTWO) 10% owner Kazumasa Tomita bought a total of 5,406 shares at an average price of $13.00. To acquire these shares, it cost around $70,278.
• What's Happening: On Aug. 4, Pono Capital Two announced pricing of $100,000,000 initial public offering.
• What Pono Capital Two Does: Pono Capital Two Inc is a shell company.

Read More:

• Top 3 Industrials Stocks That May Rocket Higher In Q3