Gainers
SeaChange International, Inc. (NASDAQ: SEAC) jumped 128.8% to $1.72 following Bloomberg report suggesting that social video app Triller is in merger talks with Seachange.
Gainers
Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) shares climbed 83.4% to $91.52. Pfizer agreed to acquire Arena Pharmaceuticals for $100 per share in an all-cash transaction.
Insider buying can be an encouraging signal for potential investors, especially when markets are uncertain or near highs.
The initial public offering of a SPAC merger prompted some insider purchases.
The chief executive officer of a financial services outfit was among the week's notable buyers.
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.
Here's a roundup of top developments in the biotech space over the last 24 hours.
Click here for accessing Benzinga's FDA Calendar
Scaling The Peaks
(Biotech Stocks Hitting 52-week Highs Sept. 28)