(AMEH), AnaptysBio (NASDAQ:ANAB) – Last Week’s Notable Insider Buys: Beacon Roofing, Chipotle, IPOs, Latham And More

  • Insider buying can send an encouraging signal to potential investors, especially when the markets are nearing record highs.
  • Again, some insiders took advantage of recent public stock offers to add or strengthen interests.
  • Again, biotechnology companies are well represented on this list.

Conventional wisdom says that insiders and 10% owners really only buy stock in a company for one reason: they think the stock price will rise and they want to take advantage of it. So insider buying can send an encouraging signal to potential investors, especially when there is uncertainty in the markets or the markets are nearing record highs.

Note that while the earnings reporting season is still underway, many insiders are prohibited from buying or selling stock. Here are some of the most notable insider purchases reported in the past week.

The combined 3.52 million or so Impel Neuropharma Inc. (NASDAQ: IMPL) shares that five beneficial owners bought had an initial price of $ 15.00 per share. These transactions cost them more than $ 52.87 million. The stock has traded as low as $ 15.89 a share since the offering, but ended the week at $ 15.20.

Rain Therapeutics Inc. (NASDAQ: RAIN) saw two beneficial owners and a former 10% owner purchase the IPO. The more than 2.02 million shares of this oncology company acquired in total, at $ 17.00 each, together accounted for more than $ 34.42 million. The stock closed the week at $ 16.37 per share.

A Knowbe4 Inc (NASDAQ: KNBE) beneficial owner indirectly won nearly 1.88 million shares early last week. At the IPO price of $ 16.00 per share, that totaled about $ 30.00 million for the security awareness platform provider. The stock traded as high as $ 26.98 per share, but ended the week at $ 22.98.

A 10% owner of Beacon Roofing Supply, Inc. (NASDAQ: BECN) was added to its stake last week. The more than 563,600 shares indirectly purchased at approximately $ 53.23 each totaled nearly $ 30.00 million and increased the stake to approximately 14.32 million shares. The stock reached a 52-week high of $ 57.67 on Friday.

Real Estate Investment Trust (REIT) based in New Jersey Mack Cali Realty Corp (NYSE: CLI) had a driver return and indirectly took up 200,000 additional shares at approximately $ 16.46 per share. That cost that director more than $ 3.39 million. Note that the same director previously also bought nearly 240,000 shares.

Apollo Medical Holdings Inc. (NASDAQ: AMEH) saw a beneficial owner pay $ 24.50 each for 100,000 shares. The total for this transaction was $ 2.45 million, and it increased the stake to more than 10.75 million shares. Note that the company’s Chief Medical Officer also sold 100,000 shares around the same time.

Pool maker Latham Group Inc. (NASDAQ: SWIM) has also just had its IPO. CEO Michael Rajeski and several other insiders raised a total of 127,500 shares for $ 19.00 each. These purchases totaled more than $ 2.42 million. The stock traded at $ 28.98 a share, but ended the week at $ 26.00.

A 10% owner added 47,700 additional shares AnaptysBio Inc. (NASDAQ: ANAB) last week. They were acquired indirectly for between $ 23.53 and $ 23.82 each, totaling more than $ 1.13 million and increasing the stake in this San Diego-based biotech to nearly 7.30 million shares.

Chipotle Mexican Grill, Inc. (NYSE: CMG) saw a director buy 673 shares for $ 1,485 each. That cost him close to $ 999,400. Note, however, that an officer recently retired from nearly 2,800 stocks. The stock last traded at $ 1,492.03 a share, and Jim Cramer recently said it could go “much higher.”

Also see: 20 picks from the 2021 CNBC ‘Stock Draft’: Bitcoin, Amazon, Ark lead the way

Note that a smaller amount of insider buys from Arcus Biosciences Inc. (NASDAQ: RCUS), Associated Banc Corp (NYSE: ASB), Capstar Financial Holdings Inc. (NASDAQ: CSTR), Heartland Express, Inc. (NASDAQ: HTLD), Tellurian Inc. (NASDAQ: TELL), Texas Capital Bancshares Inc. (NASDAQ: TCBI) and Texas Pacific Land Corp (NYSE: TPL) was also reported in the past week.

At the time of writing, the author had no position in the listed stocks.

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