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Major holder adds to stake in blood testing company. Insiders in the health, pharmaceutical, and biotech space continue to buy shares of their beaten-down companies near today’s prices. The latest big buy? At shares of one of the smaller diagnostic plays, OncoCyte Corporation (OCX). Last week, Broadwood Partners LP, which already owns more than 10 percent of shares in the company, added 1 million shares to their stake. At a price of around $2, this represented a $2 million buy. Founded in 2009, OncoCyte ...
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Big bet on gold mining company shares moving higher this year. Shares of mining companies can be pretty volatile. If gold prices stop moving higher, the share price on these companies can drop quickly. Yet at least one trader is betting that mining giant AngloGold Ashanti (AU) will trade at least as high as it’s been if not higher by the end of January 2020. On July 3rd, there was a surge in trading on the January 2020 $18 calls. Shares last traded ...
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Major holder adds to stake in beaten-down biotech company. Insiders in the health, pharmaceutical, and biotech space continue to buy shares of their beaten-down companies near today’s prices. The latest big buy? At shares of one of the smaller biotech plays, Dova Pharmaceuticals (DOVA). On July 3rd, the Perceptive Life Sciences Master Fund, which already owns more than 10 percent of shares and has a seat on the board of directors, added to their stake. The fund bought 20,541 shares, paying just under $300,000 ...
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Big put option bet indicates decline in shares ahead. Shares of General Electric (GE) could be moving down over the summer. That’s based on an unusual bet: a surge in trading on the September $12 put options. Why is this unusual? Because shares are at $10.63, making the trade already in-the-money. There are a few reasons for this kind of trade. First, being in-the-money, the option should move down penny-for-penny with shares. However, if shares remain under $12 come September, the trader will be ...
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First insider buy at the grocery chain in two years. With so much conflicting economic data, investors may be looking for defensive investments. Corporate insider buying in the space is rare, which makes the recent insider buy at grocery chain The Kroger Co. (KR) so interesting. On July 2nd, director Ronald Sargent bought 5,000 shares, shelling out about $108,000 to add to his stake in the company. All told, he now owns just under 95,000 shares. This is the first insider buy ...
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Big bet on natural gas producer during summer slump. Shares of Chesapeake Energy (CHK) could move up to 34 percent higher between now and November. That’s based on a surge in volume on the November $2.50 calls, and a current price around $1.86. On Tuesday, over 160,000 of these options traded, a 58-fold surge in volume. That’s a relatively quick amount of time for such a move, but it’s not unheard of in the commodity space. Plus, by November, a colder-than-expected winter could move ...
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Insiders have never sold shares in the past three years. While names related to transportation and trade haven’t looked attractive in the midst of slowing global trade and tariff fears, insiders see an opportunity in Pitney Bowes (PBI). On June 30th, Executive Vice President Jason Dies bought 1,500 shares, increasing his stake in the company by 25 percent. Insiders have been net buyers, with no insider sales at the company, for nearly three years. Pitney Bowes provides mail and shipping fulfillment products and ...
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Traders betting on rally after Fed approves capital plans. Shares of Bank of America (BAC) could move up to 23 percent higher between now and February. That’s based on a surge in volume on the February 21st 2020 $36 calls. Over 1,400 contracts traded on Monday, about a 12-fold increase in the existing open interest on the bank. Shares are currently around $29.50, so this out-of-the-money trade needs the big percentage move to lock in a profit by the expiration in February. Last week, ...
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