$16.5M Bet On This Healthcare Stock? Check Out These 4 Stocks Insiders Are Buying
Portfolio Pulse from Avi Kapoor
Insiders at Wave Life Sciences, Corbus Pharmaceuticals, Intel, and Texas Capital Bancshares have made significant stock purchases. GSK plc, a 10% owner of Wave Life Sciences, acquired 3.3 million shares for $16.5 million following an upgrade by Leerink Partners with a $12 price target. Bihua Chen, a 10% owner of Corbus Pharmaceuticals, bought shares worth $9.11 million amid a public offering announcement. Intel's CEO Patrick Gelsinger purchased shares for $130,083 after the company issued lower-than-expected guidance. Robert Stallings, a director at Texas Capital Bancshares, bought shares for $194,890 following disappointing earnings.
January 31, 2024 | 1:31 pm
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POSITIVE IMPACT
Bihua Chen's purchase of Corbus Pharmaceuticals shares worth $9.11 million comes as the company plans a public offering, indicating potential undervaluation.
The insider purchase by Bihua Chen could be seen as a positive sign of confidence in the face of a new public offering, which might attract investor interest.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 85
POSITIVE IMPACT
Intel's CEO Patrick Gelsinger's purchase of 3,000 shares after issuing lower guidance may indicate belief in the company's long-term value.
Despite issuing lower guidance, the CEO's stock purchase could be interpreted as a positive signal to the market, potentially mitigating the negative impact of the guidance.
CONFIDENCE 65
IMPORTANCE 60
RELEVANCE 80
POSITIVE IMPACT
Director Robert Stallings' investment in Texas Capital Bancshares following poor earnings could suggest the stock is undervalued.
The insider buying by Robert Stallings after disappointing earnings could be seen as a contrarian indicator, suggesting the stock may be poised for a rebound.
CONFIDENCE 60
IMPORTANCE 65
RELEVANCE 75
POSITIVE IMPACT
GSK plc's $16.5M purchase of Wave Life Sciences shares signals strong confidence, especially after an analyst upgrade and a $12 price target.
The large insider purchase by GSK plc combined with the recent analyst upgrade to Outperform and a $12 price target suggests a bullish outlook for WVE in the short term.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90