4 insiders buy $15 mil of Micro-Cap – Week of 7/30

Investors should always be on the lookout for insights that could give them an edge in the stock market, and one potential source of such information is insider buying activity. When company insiders, such as executives or board members, buy shares of a company’s stock, it can be seen as a vote of confidence in the company’s prospects. Publicly available insider buying information can provide valuable clues about which stocks may be worth considering for investment.

Here are three stocks recently purchased by C-level insiders –

Turnstone Biologics Corp. – SYM: TSBX
Recent Price: $11.81
Insider Action: 4 insiders buy $15 mil in shares
Description: Turnstone Biologics Corp., a clinical stage biotechnology company, focuses on developing medicines to treat and cure patients with solid tumors. The company’s lead product includes TIDAL-01 that is in Phase 1 clinical trials for the treatment of breast cancer, colorectal cancer, and uveal melanoma, as well as an investigator sponsored trial to treat cutaneous and non-cutaneous melanomas.

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Purple Innovation, Inc. – SYM: PRPL
Recent Price: $3.21
Insider Action: 5 insiders buy $369K in shares
Description: Purple Innovation, Inc. designs and manufactures mattresses, pillows, and cushions. The company also offers bases, foundations, sheets, mattress protectors, bed frames, seat cushions, blankets, and duvets, as well as pet beds. It markets and sells its products through its e-commerce online channels, retail brick-and-mortar wholesale partners, and third-party online retailers, as well as through Purple retail showrooms. The company was founded in 2010 and is headquartered in Lehi, Utah.

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CION Investment Corporation – SYM: CION
Recent Price: $10.87
Insider Action: 5 insiders buy $115K in shares
Description: CION Investment Corporation is a business development company. It specializes in investments in senior secured loans, including unitranche loans, First Lien, second lien loans, long-term subordinated loans, and mezzanine loans; equity interests such as warrants or options; and corporate bonds; and other debt securities in middle-market companies. The firm invests in growth capital, acquisitions, leveraged buyouts, market/product expansion, refinancing and recapitalization. The fund also invests up to 30 percent of their assets opportunistically in other types of investments, including the securities of larger public companies and foreign securities. It also makes investments in the secondary loan market. The fund does not invest in start-up companies, turnaround situations, or companies with speculative business plans. The fund prefers to invest in high tech industries, healthcare, pharmaceuticals, business services, media, chemicals, plastic, rubber, telecommunication, consumer services, advertising, printing and publishing, consumer goods, durables, diversified financials, and other industries. It also invests in homebuilding, restaurants, beverage and tobacco bars, broadcasting, distributors, Non-durable good distribution, food beverage and tobacco, energy, oil gas and consumables fuels, insurance, aerospace and defense, industrial machinery, paper and forest product machinery, information technology, metals and mining, and real estate. It primarily seeks to invest in the United States. The fund seeks to invest between $5 million and $50 million in companies with an EBITDA between $25 million and $75 million with average targeted hold of $25 million. It also purchases minority interests in the form of common or preferred equity in the target companies, typically in conjunction with its debt investments or through a co-investment with a financial sponsor. The fund seeks to exit its investments through an initial public offering of common stock, a merger, a sale, or other recapitalization.