Despite the fact that US equities ended the day down, Adobe stock (NASDAQ:ADBE) and two others were engaged in a few major insider deals.
When insiders buy stock, it shows their belief in the company’s future or that they see the stock as a good buy. In any case, this indicates a buying opportunity in the stock. Insider purchases should not be relied on alone to make an investment or trading decision. At best, it may strengthen a purchasing choice.
The following are some recent significant insider acquisitions: Allakos stock, Medscape stock, and Adobe stock (NASDAQ:ADBE)
Allakos Inc. ALLK Director Edward Paul Walker purchased 3,984,000 Allakos stock at an average price of $5.02. It cost roughly $20 million to buy these shares.
What’s New: Alllakos recently priced an underwritten offering of approximately 29.88 million shares of common stock at a price of $5.02 per share.
Allakos, Inc. is a clinical-stage firm that is developing therapeutic antibodies that specifically target immunomodulatory receptors on the surface of immune effector cells implicated in allergy, inflammatory, and proliferative illnesses.
Medpace Holdings, Inc. Stock
Medpace Holdings, Inc. CEO August J. Troendle purchased 57,426 shares of MEDP stock at an average price of $154.59. It cost about $8.88 million to buy these shares.
What’s Going on: The company’s stock has lost roughly 8% in the last month.
Medpace Holdings, Inc. is a clinical contract research business. Based on scientific evidence, it provides outsourced clinical development services to the biotechnology, pharmaceutical, and medical device businesses.
The Transaction: Adobe Inc. (NASDAQ:ADBE) EVP and CFO Daniel Durn purchased 3,250 shares of Adobe stock at an average price of $288.11. These shares cost around $936,360.00 to buy.
What’s New: MoffettNathanson commenced coverage on Adobe stock (NASDAQ:ADBE) with a Hold rating and a price target of $354.
What Adobe Does: Adobe provides creative professionals and marketers with content creation, document management, and digital marketing and advertising software and services for creating, managing, delivering, measuring, optimizing, and engaging with compelling content across multiple operating systems, devices, and media.
Featured Image- Megapixl @ Davidtran07