Much attention has been paid lately to the fact that Warren Buffett has been trimming stakes and building a cash hoard. So it was a bit of a surprise to see some huge insider purchases from Berkshire Hathaway this month. And Buffett came back this past week for one particular tech stock. Meanwhile, other insiders were scooping up shares of a pair of biotech stocks. Let’s take a quick look at these transactions.

Is Insider Buying Important?

A well-known adage reminds us that corporate insiders and 10% owners really only buy shares of a company because they believe the stock price will rise and they want to profit from it. Thus, insider buying can be an encouraging signal for potential investors. This is all the more so during times of uncertainty in the markets, and even when markets are near all-time highs.

The next earnings-reporting season has not yet begun, so fewer insiders are prohibited from buying or selling shares. Below are some of the more notable insider purchases that were reported in the past week, starting with the largest and most prominent.

Verisign

• Buyer(s): 10% owner Berkshire Hathaway
• Total shares: more than 143,400
• Price per share: $194.98 to $201.67
• Total cost: over $28.5 million

After scooping up more than $45 million worth of Verisign Inc. (NASDAQ: VRSN) shares in the prior week, Berkshire Hathaway boosted its stake again to nearly 13.2 million shares. Shares of the Virginia-based tech company are up almost 8% since the most recent quarterly report, outperforming the Nasdaq. However, the stock is down around 2% from a year ago, though shares are trading above Buffett’s latest price range. Three of four analysts who cover the stock recommend buying shares, and the mean price target is up at $212.78. Note that an officer sold some shares earlier this month.

Assembly Biosciences

• Buyer(s): 10% owner Gilead Sciences
• Total shares: about 940,500
• Price per share: $21.37
• Total cost: nearly $20.1 million

Biotechnology company Assembly Biosciences Inc. (NASDAQ: ASMB) is focused on infectious diseases. The transaction above increased Gilead Sciences Inc.’s (NASDAQ: GILD) stake to 29.9%, and the funds are intended to support Assembly’s clinical pipeline. Since the company released its third-quarter report in November, the shares have pulled back about 11%, but the stock is still more than 60% higher than a year ago. Two out of three analysts who follow the stock recommend buying shares, and their $35.50 consensus price target indicates they anticipate about 290% upside potential in the next 12 months.

Anebulo Pharmaceuticals

• Buyer(s): a director
• Total shares: about 10.1 million
• Price per share: $0.99
• Total cost: around $10.0 million

Texas-based Anebulo Pharmaceuticals Inc. (NASDAQ: ANEB) is a clinical-stage biopharmaceutical company developing novel solutions for people suffering from acute cannabinoid-induced toxicities. It just announced a positive regulatory update and the close of a capital raise. The stock has bounced back from a recent all-time low of $0.80 per share and was last seen well above this buyer’s purchase price. Just one analyst covers the stock, and it has a price target way up at $8.00 per share, as well as a Buy rating. Note that the same buyer has been picking up shares of textile manufacturer Culp Inc. (NYSE: CULP) this month.

Progyny

• Buyer(s): CEO Peter Anevski and Executive Chair David Schlanger
• Total shares: 359,500
• Price per share: $14.30 to $14.81
• Total cost: over $5.2 million

Shares of fertility-focused company Progyny Inc. (NASDAQ: PGNY) took a hit earlier this year on news that it had lost a major client. That news also prompted at least one hedge fund to abandon its position in the company. The stock has bounced back somewhat from a recent all-time low of $13.39 but is still down about 56% year to date. It was last seen trading for greater than the purchase price range above. The consensus price target of $18.86 a share suggests 20% or so upside in the coming year, but for now just three of 10 analysts recommend buying shares.

And Other Insider Buying

In the past week, some insider buying was reported at Agree Realty, Ardelyx, Casey’s General Stores, CCC Intelligent Solutions, Dorchester Minerals, Eastman Kodak, FedEx, Fluence Energy, Globalstar, Ionis Pharmaceuticals, Lamb Weston, Liberty Latin America, Lowe’s, and Toro as well.

Buffett Is Selling, and That’s Bad for Investors. But He’s Also Buying These 3 Stocks

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