This article presents an overview of 5 Stocks Insiders are Buying Now. For a detailed overview of such stocks, read our article, 11 Stocks Insiders are Buying Now.
5. EchoStar Corp (NASDAQ:SATS)
Number of Hedge Fund Investors: 24
Satellite communication and internet services company EchoStar Corp (NASDAQ:SATS) ranks fifth in our list of the stocks with the highest insider purchasing activity recently. On March 6, James Defranco, who is a board member at EchoStar Corp (NASDAQ:SATS), amassed 90,000 shares of EchoStar Corp (NASDAQ:SATS) at $13.21 per share. Over the past five days through March 10 the stock has gained about 7%.
As of the end of the fourth quarter of 2023, 24 hedge funds tracked by Insider Monkey had stakes in EchoStar Corp (NASDAQ:SATS).
4. 89bio Inc (NASDAQ:ETNB)
Number of Hedge Fund Investors: 30
Clinical stage biopharma company 89bio Inc (NASDAQ:ETNB) saw heavy insider buying activity recently as RA Capital Management, which has a director status at 89bio Inc’s (NASDAQ:ETNB) board, loaded up on 1.35 million shares of 89bio Inc (NASDAQ:ETNB) on March 4 at $15.35 per share. Since then through March 10 the stock has lost about 6.1%.
3. J B Hunt Transport Services Inc (NASDAQ:JBHT)
Number of Hedge Fund Investors: 35
J B Hunt Transport Services Inc (NASDAQ:JBHT) is one of the stocks with strong insider buying activity recently in terms of dollar value. Patrick Ottensmeyer, who is a director at JB Hunt, bought 5,000 shares of J B Hunt Transport Services Inc (NASDAQ:JBHT) on March 5 at $202.99 per share. Over the past five days through March 11 the stock has lost about 1.5% in value.
As of the end of the fourth quarter of 2023, 35 hedge funds tracked by Insider Monkey had stakes in J B Hunt Transport Services Inc (NASDAQ:JBHT).
2. Jazz Pharmaceuticals PLC (NASDAQ:JAZZ)
Number of Hedge Fund Investors: 42
Jazz Pharmaceuticals PLC’s (NASDAQ:JAZZ) EVP and CFO Philip Johnson bought 12,000 shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) on March 1 at $119.65 per share. The stock closed at $118.85 that day. Since then it has slipped about 1.1%.
Insider Monkey’s database of 933 hedge funds shows that 42 hedge funds had stakes in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) as of the end of the fourth quarter of 2023. The most notable stake in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) is owned by Bernard Horn’s Polaris Capital Management which owns a $156 million stake in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ).
Aristotle Capital Global Equity Strategy made the following comment about Jazz Pharmaceuticals plc (NASDAQ:JAZZ) in its Q3 2023 investor letter:
“During the quarter, we sold our position in Magna International and invested in a new position, Jazz Pharmaceuticals plc (NASDAQ:JAZZ). Founded in 2003, Jazz Pharmaceuticals is a global biopharmaceutical company headquartered in Ireland. The drugmaker’s portfolio of nine approved products focuses on conditions with limited therapeutic treatments in neuroscience (~75% of 2022 revenue) and oncology (~25%).
Jazz’s drug Xyrem was added to its portfolio in 2005 and was approved for use in patients with narcolepsy. The drug’s strong efficacy propelled it to be the standard of care for this incurable sleep condition and has achieved wide adoption for the treatment of excessive daytime sleepiness and cataplexy (episodes of loss of muscle control)…
Xyrem’s patent exclusivity ended in January 2023, and authorized generic versions of the product have entered the market. To prepare for the patent cliff, the company developed Xywav, a lower‐sodium version of Xyrem, which is touted for its potentially better heart safety. The drug has received FDA approval for the treatment of narcolepsy and idiopathic hypersomnia and has orphan drug exclusivity through 2027…” (Click here to read the full text)
1. Keurig Dr Pepper Inc. (NASDAQ:KDP)
Number of Hedge Fund Investors: 37
Soft drinks company Keurig Dr Pepper Inc. (NASDAQ:KDP) ranks first in our list of the top stocks with the biggest insider buying activity. Keurig Dr Pepper Inc.’s (NASDAQ:KDP) CFO Sudhanshu Priyadarshi on March 5 bought 85,910 shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) at $29.10 per share. The stock inched up just by 0.17% since then.
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