Although US stocks closed higher on Friday, there was some notable insider trading.

When insiders buy stock, it shows they have confidence in the company’s prospects or that they see the stock as a bargain. Either way, it signals an opportunity to go long the stock. Insider buying should not be taken as the sole indicator of an investment or trading decision. At best, it can convince a purchase decision.

Below is a look at some notable recent insider purchases. For more information, see Benzinga insider trading Platform.

Terns Pharma

• The trade: Terns Pharmaceuticals, Inc. SWALLOW 10% owner Vivo Capital Surplus Fund VIII, LP acquired a total of 758,620 shares an average price of $7.25. The purchase of these shares cost around 5.5 million US dollars.
• What’s happening: Terns Pharmaceuticals recently announced a proposed $75 million public offering.
• What Terns Pharmaceuticals does: Terns Pharmaceuticals Inc is a clinical-stage biopharmaceutical company.

Noodles & Co

• The trade: Noodles & Co NDLS 10% owner Thomas Lynch a total of 113,730 shares were acquired an average price of $4.95. Acquisition of these shares cost about 563.14 thousand US dollars.
• What’s happening: Noodles reported worse-than-expected Q3 EPS results last month.
• What Noodles & Company does: Noodles & Co is a restaurant concept that offers lunch and dinner in the fast-casual segment of the restaurant industry.

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HighPeak energy

• The trade: High Peak Energy, Inc. HPK Managing Director Jack Hightower bought a total of 50,000 shares at an average price of $21.91. The purchase of these shares cost around 1.1 million US dollars.
• What’s happening: HighPeak Energy last month reported worse-than-expected Q3 EPS and sales results.
• What HighPeak Energy does: HighPeak Energy Inc is an independent oil and natural gas company focused on the development of…