More Than $10M Bet On Appian? Check Out These 3 Stocks Insiders Are Buying
Portfolio Pulse from Avi Kapoor
Insiders have made significant purchases in Adverum Biotechnologies, Appian Corporation, and American Strategic Investment Co., indicating confidence in these companies' prospects. Notable trades include $1.79 million in Adverum, $10.6 million in Appian, and $1.38 million in American Strategic Investment.
July 19, 2024 | 5:17 pm
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NEUTRAL IMPACT
American Strategic Investment Co.'s 10% owner New York City Advisors, LLC bought 125,864 shares for $1.38 million. The company recently posted downbeat quarterly sales.
Despite the insider purchase, the recent downbeat sales may temper the positive impact. The stock price may remain neutral in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Adverum Biotechnologies' 10% owner Braden Michael Leonard acquired 216,264 shares for $1.79 million. This follows the release of data from its LUNA Phase 2 trial for Ixo-vec in wet AMD patients.
The insider purchase indicates strong confidence in the company's future, especially following the release of promising trial data. This could positively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Appian Corporation's 10% owner Colin T. Moran acquired 300,000 shares for $10.6 million. The company is set to release its Q2 financial results on August 1.
The significant insider purchase suggests strong confidence ahead of the Q2 financial results. This could lead to a positive short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100