Insiders Bet on a Biotech Bounce

JC Parets
May 23, 2022

ValueAct Partners revealed an additional purchase of roughly $10 million in Insight Enterprises $NSIT, as the activist hedge fund continues to build a position in the enterprise cloud company.

The firm now owns more than 3.8 million shares for a total ownership interest of just under 11%.

The executive chairman of Avis Budget Group $CAR revealed a purchase of approximately 26,000 shares of his company's stock in a Form 4 filing.

Here’s The Hot List, with data through May 20, 2022:

In another Form 4, a Prologis $PLD director reported a $1.7 million purchase in the industrial REIT.

Broad Bay Capital Management LP revealed an ownership stake of 5.6% in MediaAlpha $MAX in a 13G.

There was a lot of insider activity in biotechnology names last week, as Repare Therapeutics $RPTX, Humanigen $HGEN, and Enochian Biosciences $ENOB each had a sizable Form 4 purchase reported Friday.

In the options market, there was bullish flow in the retail chain Kohl's Corporation $KSS and the medical devices company Boston Scientific $BSX.

There was also bullish options activity in the footwear and accessories company Steven Madden $SHOO.

Stay tuned. We'll be back Tuesday with more insider action.

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All Star Charts Team

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