Insider trades are a sign of broad daylight

There were a few notable insider trades, even though US stocks closed higher on Wednesday.

When insiders purchase shares, it indicates their confidence in the company's prospects or that they view the stock as a bargain. 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. It can give conviction to a buying decision.

Below is a look at some recent insider purchases. The CHTR Director Steven A Miron, who owns Charter Communications, Inc., has a total of 2,500 shares and an average price of $384.35. It cost around $960.87 thousand to acquire these shares.

MPB Director John E Noone, who owns Mid Penn Bancorp, Inc., has a total of 2,000 shares at an average price of $30.69. It cost around $61.38 thousand to acquire these shares.

What does Mid Penn Bancorp do?

The trade: NGM Biopharmaceuticals, Inc. NGM 10% owner TCG Opportunity III GP, LLC bought 184,272 shares at an average price of $5.00. It cost around $921.11 thousand to acquire these shares.

What s Happening: NGM Bio gave guidance on key priorities and outlined corporate strategy last month.

NGM Biopharmaceuticals does what it does: NGM Biopharmaceuticals Inc is a clinical-stage biopharmaceutical company.

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