$27.5M Bet On Block? Check Out These 3 Stocks Insiders Are Buying
Portfolio Pulse from Lisa Levin
Insider purchases at Block, Janux Therapeutics, and American States Water indicate potential confidence in these companies. Block's 10% owner David Goel invested approximately $27.5 million in the company's shares. Janux Therapeutics saw a $4.99 million purchase by Avalon Bioventures I LP, and American States Water had a smaller transaction with Director Steven D Davis buying $77,899 worth of shares. These transactions come as Block reported strong earnings, Janux Therapeutics posted a narrower loss, and American States Water reported disappointing earnings.
November 14, 2023 | 1:23 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Janux Therapeutics' 10% owner Avalon Bioventures I LP acquired 849,854 shares at $5.87 each, costing about $4.99 million, after the company reported a narrower quarterly loss.
Insider buying in the wake of a narrower-than-expected loss may be perceived as a positive sign that the company's financial health is improving, potentially leading to a short-term uptick in stock price.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Block's 10% owner David Goel purchased 540,646 shares at $50.89 each, totaling around $27.5 million, signaling strong insider confidence following better-than-expected Q3 earnings.
The substantial investment by a major owner often suggests a bullish outlook on the company's future performance and may positively influence investor sentiment in the short term.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90
NEUTRAL IMPACT
American States Water Director Steven D Davis bought 1,000 shares at $77.90 each, totaling $77,899, despite the company posting downbeat quarterly earnings.
The insider purchase at American States Water is relatively small and follows a negative earnings report, which may have a neutral to slightly positive impact on the stock as the market weighs the insider's confidence against the earnings miss.
CONFIDENCE 65
IMPORTANCE 60
RELEVANCE 70