$40M Bet On Acumen Pharmaceuticals? Check Out These 3 Stocks Insiders Are Buying
Portfolio Pulse from Lisa Levin
Insider trades were noted in Acumen Pharmaceuticals, Culp, and Berkshire Hills Bancorp. Acumen Pharmaceuticals Director Rajeev Shah acquired 5,161,290 shares at an average price of $7.75, costing around $40 million. This follows the company's upsizing of its previously announced offering to $130 million from $100 million. Culp Director Lee Jonathan Kelly acquired 3,130 shares at an average price of $5.48, costing around $17,156, after the company posted a narrower-than-expected Q4 loss. Berkshire Hills Bancorp President and CEO Nitin Mhatre bought 1,500 shares at an average price of $22.29, costing around $33,435, following the company's downbeat quarterly results.
July 26, 2023 | 12:50 pm
News sentiment analysis
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NEUTRAL IMPACT
Berkshire Hills Bancorp President and CEO Nitin Mhatre bought 1,500 shares following the company's downbeat quarterly results.
The CEO's purchase of shares despite downbeat results indicates confidence in the company's future, which could stabilize the stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100
POSITIVE IMPACT
Acumen Pharmaceuticals Director Rajeev Shah acquired over 5 million shares, following the company's upsizing of its offering to $130 million.
The large purchase by the director indicates confidence in the company's prospects, which could positively impact the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Culp Director Lee Jonathan Kelly acquired 3,130 shares after the company posted a narrower-than-expected Q4 loss.
The insider purchase following better-than-expected results indicates a positive outlook for the company, which could boost the stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100