$5M Bet On This Biotechnology Stock? Check Out These 3 Stocks Insiders Are Buying
Portfolio Pulse from Lisa Levin
Insider trades were noted in three US stocks: Black Diamond Therapeutics, Inc. (BDTX), National HealthCare Corporation (NHC), and Healthcare Services Group, Inc. (HCSG). BB Biotech AG, a 10% owner of BDTX, acquired 1,000,000 shares at an average price of $5.00. Richard F. Laroche Jr., a director at NHC, acquired 2,100 shares at an average price of $61.40. Kurt Simmons Jr, a director at HCSG, bought 1,005 shares at an average price of $14.93.
July 05, 2023 | 12:53 pm
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POSITIVE IMPACT
BB Biotech AG, a 10% owner of Black Diamond Therapeutics, Inc., acquired 1,000,000 shares at an average price of $5.00. Stifel upgraded the stock from Hold to Buy and raised the price target from $2 to $10.
The purchase of a significant number of shares by a 10% owner indicates strong confidence in the company. The upgrade by Stifel further supports a positive outlook for the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Kurt Simmons Jr, a director at Healthcare Services Group, Inc., bought 1,005 shares at an average price of $14.93. The company reported revenue of $417.2 million for the three months ended March 31, 2023.
The purchase of shares by a director indicates confidence in the company. The reported revenue for Q1 2023 further supports a positive outlook for the stock.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Richard F. Laroche Jr., a director at National HealthCare Corporation, acquired 2,100 shares at an average price of $61.40. The company reported increased net operating revenues and grant income for the quarter ended March 31, 2023.
The insider purchase by a director, coupled with the reported increase in revenues, suggests a positive outlook for the stock.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100