$1M Bet On Iridium Communications? Check Out These 3 Stocks Insiders Are Buying
Portfolio Pulse from Lisa Levin
Insiders at Bristol-Myers Squibb, Iridium Communications, and Impinj have made significant stock purchases. Bristol-Myers Squibb's Director bought shares after FDA approval of a new cancer drug. Iridium Communications' CEO invested $1.04 million in the company's stock following the termination of a smartphone agreement with Qualcomm. Impinj's Director made a $3.34 million purchase after reporting strong third-quarter revenue results.
November 22, 2023 | 1:43 pm
News sentiment analysis
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POSITIVE IMPACT
Bristol-Myers Squibb Director Theodore R. Samuels purchased 8,500 shares at $49.81 each after FDA approval of a new cancer drug.
The insider purchase combined with the recent FDA approval of Augtyro could signal a positive outlook for the company, potentially leading to a short-term increase in stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Impinj Director Patrick Daniel Gibson acquired 41,252 shares at $81.01 each following strong Q3 revenue results.
The director's substantial investment after positive revenue results could indicate a bullish outlook for the company, likely leading to a short-term uptick in the stock price.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80
NEUTRAL IMPACT
Iridium Communications CEO Matthew Desch bought 28,000 shares at $37.01 each after Qualcomm terminated its smartphone agreement with the company.
The CEO's large purchase shows confidence despite the termination of the Qualcomm agreement, which could have a neutral to positive effect on the stock as the market digests the news.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70