$6.9M Bet On This Healthcare Stock? Check Out These 4 Stocks Insiders Are Buying

Although U.S. stocks closed mostly higher on Monday, 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.

Olema Pharmaceuticals

• The Trade: Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Director Graham Walsmley acquired a total of 640,000 shares an average price of $10.74. To acquire these shares, it cost around $6.87 million.
• What’s Happening: Olema Pharmaceuticals recently announced interim results from an ongoing Phase 1b/2 clinical study of palazestrant in combination with CDK4/6 inhibitor ribociclib.
• What Olema Pharmaceuticals Does: Olema Pharmaceuticals inc is a clinical-stage biopharmaceutical company. It is focused on the discovery, development, and commercialization of next generation targeted therapies for women's cancers.

Trinseo

• The Trade: Trinseo PLC (NYSE:TSE) Director Matthew Farrell acquired a total of 50,000 shares at an average price of $7.21. To acquire these shares, it cost around $360,500.
• What’s Happening: On Nov. 3, Trinseo posted downbeat quarterly results.
• What Trinseo Does: Trinseo PLC is a leading global materials company and manufacturer of latex and plastics products.

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Where Food Comes From

• The Trade: Where Food Comes From, Inc. (NASDAQ:WFCF) Director Pete Lapaseotes bought a total of 1,438 shares at an average price of $12.75. To acquire these shares, it cost around $18,334.
• What’s Happening: On Nov. 9, Where Food Comes From posted third-quarter EPS of 13 cents.
• What Where Food Comes From Does: Where Food Comes From Inc is a third-party food verification company. It offers food production audits and uses verification processes to ensure that claims made by food producers and processors are accurate.

Chewy

• The Trade: Chewy, Inc. (NYSE:CHWY) Director James A Star bought a total of 12,242 shares at an average price of $20.38. The insider spent around $249,519 to buy those shares.
• What’s Happening: The FDA recently issued warning letters to Chewy and eight other companies for violating federal law by distributing or manufacturing unapproved and misbranded antimicrobial animal drugs for animals that could potentially give rise to drug-resistant superbugs.
• What Chewy Does: Chewy is the largest e-commerce pet care retailer in the U.S., generating $10.1 billion in 2022 sales across pet food, treats, hard goods, and pharmacy categories.

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