Over $15M Bet On This Healthcare Stock? Check Out These 3 Stocks Insiders Are Buying
Portfolio Pulse from Lisa Levin
Insider trades were noted in Howard Hughes Holdings Inc. (HHH), Scholar Rock Holding Corporation (SRRK), and Asana, Inc. (ASAN). HHH Director William Ackman acquired 116,536 shares for around $7.96 million. HHH plans to spinoff a new division, Seaport Entertainment, by 2024. SRRK's 10% owner Invus Public Equities Advisors LLC acquired 2,199,931 shares for around $15.09 million. SRRK priced its upsized $85 million public offering of 12,408,760 common shares at $6.85 per share. ASAN's President, CEO and Chair Dustin Moskovitz bought 347,802 shares for around $6.24 million. UBS initiated coverage on ASAN with a Neutral rating and a price target of $20.
October 17, 2023 | 11:05 am
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POSITIVE IMPACT
ASAN's President, CEO and Chair Dustin Moskovitz bought 347,802 shares for around $6.24 million. UBS initiated coverage on ASAN with a Neutral rating and a price target of $20.
The insider purchase by the CEO indicates confidence in the company's prospects. The neutral rating from UBS suggests that the stock is fairly valued at current levels.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
HHH Director William Ackman acquired 116,536 shares for around $7.96 million. The company plans to spinoff a new division, Seaport Entertainment, by 2024.
The insider purchase by the director indicates confidence in the company's prospects. The planned spinoff could potentially add value to the company.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
SRRK's 10% owner Invus Public Equities Advisors LLC acquired 2,199,931 shares for around $15.09 million. The company priced its upsized $85 million public offering of 12,408,760 common shares at $6.85 per share.
The insider purchase by a 10% owner indicates strong confidence in the company's prospects. The upsized public offering could provide the company with additional capital for growth.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100