$10M Bet On GameStop? Check Out These 3 Stocks Insiders Are Buying
Portfolio Pulse from Lisa Levin
Insiders at Cogent Biosciences, Royalty Pharma, and GameStop have made notable stock purchases, signaling confidence in their respective companies. Cogent Biosciences recently priced its upsized public offering, Royalty Pharma reported mixed Q1 financial results, and GameStop reported worse-than-expected Q1 results.
June 14, 2023 | 1:11 pm
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Fairmount Funds Management LLC, a 10% owner of Cogent Biosciences, acquired 800,000 shares at an average price of $12.00, costing around $9.6 million.
The acquisition of 800,000 shares by a 10% owner indicates strong confidence in Cogent Biosciences' prospects. This could lead to a short-term positive impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
GameStop's executive chairman, Ryan Cohen, bought 443,842 shares at an average price of $22.53, costing around $10 million.
The purchase of 443,842 shares by the executive chairman signals confidence in GameStop's prospects, despite worse-than-expected Q1 results. This could lead to a short-term positive impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Royalty Pharma's Director, CEO, and Chairman, Pablo G Legorreta, acquired 90,000 shares at an average price of $32.89, costing around $2.96 million.
The purchase of 90,000 shares by the CEO indicates confidence in Royalty Pharma's future performance. This could result in a short-term positive impact on the stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100