"Insider buys can be a telltale sign of a turnaround, as these investments give you a window into where management stands with a company. Studies have shown that insider buys often lead to the stock performing well. It's easy to understand why, as no one wants to throw money at a sinking ship, even if the ship is their own."
"She approximately $10 million worth of common stock on October 21, filing about the purchase on October 23. This was done at an average price of $18.74 per share, so she's already in the green. CEO Duggan Robert bought at that exact same average price on the same day. He bought $500,000 worth of SMMT stock. Co-CEO Maky Zanganeh also bought $500k worth of the stock on the same day and at the same price."
Insider purchases frequently indicate management confidence and can presage stock recoveries. Employees and executives possess superior knowledge of orders, customer retention, and regulatory timelines. Personal cash buys differ from routine compensation and merit closer examination. Summit Therapeutics saw multiple sizeable insider purchases: Director Xia Yu bought approximately $10 million, and both CEO Duggan Robert and Co-CEO Maky Zanganeh made substantial purchases in September and October. SMMT traded near $19.26 as noted. The company’s lead drug candidate, ivonescimab, showed strong clinical results in advanced lung cancer and carries analyst peak-sales estimates as high as $53 billion, supporting a bullish case.
Read at 24/7 Wall St.
Unable to calculate read time
Collection
[
|
...
]