Although US stocks closed higher on Tuesday, there were a few notable insider trades.

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.

Below is a look at a few recent notable insider purchases. For more, check out Benzinga's insider transactions platform.

Tilly's

• The Trade: Tilly's, Inc. (NYSE:TLYS) 10% owner Pleasant Lake Partners LLC acquired a total of 506,494 shares an average price of $9.27. To acquire these shares, it cost around $4.7 million.
• What's Happening: Tilly's said its 2022 holiday period sales decreased by 12.9% to $150.9 million.
• What Tilly's Does: Tilly's Inc works as a specialty retailer of casual apparel, footwear, and accessories for young men, young women, boys, and girls.

CVD Equipment

• The Trade: CVD Equipment Corporation (NASDAQ:CVV) 10% owner ADA Partners, L.P. acquired a total of 35,810 shares at an average price of $5.83. To acquire these shares, it cost around $208.93 thousand.
• What's Happening: CVD Equipment received additional order for ten PVT-150 systems for silicon carbide growth.
• What CVD Equipment Does: CVD Equipment Corp is engaged in the manufacturing of chemical vapor deposition equipment, customized gas control systems, the manufacturing of process equipment suitable for the synthesis of a variety of one-dimensional nanostructures and nanomaterials and a line of furnaces, all of which are used to produce semiconductors and other electronic components.

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Greenwich LifeSciences

• The Trade: Greenwich LifeSciences, Inc. (NASDAQ:GLSI) CEO and CFO Snehal Patel bought a total of 1,500 shares at an average price of $15.18. To acquire these shares, it cost around $22.77 thousand.
• What's Happening: The company's stock surged 18% over the past month.
• What Greenwich LifeSciences Does: Greenwich LifeSciences Inc is a biopharmaceutical company that is developing GP2, an immunotherapy designed to prevent the recurrence of breast cancer following surgery.