10 Stocks With At Least $20 Million In Insider Spending Recently

6. Atai Life Sciences N.V. (NASDAQ:ATAI)

Highest Individual Purchase: $22,755,007.80

Number of Purchases Worth Between $20 million and $35 million: 1

Market Capitalization: $290.99 million

Atai Life Sciences N.V. is a psychedelics company. It is focused on developing and investing in various treatments for depression, anxiety, addiction, and other mental health disorders. Among its leading product candidates are COMP360, a proprietary psilocybin, which is in the Phase 3 program, and VLS-01, a DMT treatment for treatment-resistant depression.

The company, headquartered in New York and Berlin is also considered one of 12 best psychedelic stocks to buy in 2025.

On February 14, one insider acquired $22.76 million worth of Atai shares at a price of $2.10 per share. Currently, the stock is trading at $1.50 per share, having gained 12.78% year-to-date.

For the third quarter of 2024, Atai reported cash, cash equivalents, restricted cash and short-term securities of $101.0 million compared to $154.2 million as of December 31, 2023. The company attributed the decrease to $58.1 million net cash used in operating activities, $10.0 million for the Beckley Psytech investment, and a $7.7 million investment to advance its programs, among others. Atai stated that its cash position is enough to support operations into 2026. Net loss amounted to $26.3 million, compared to a net income of $44.2 million in the same quarter of 2023.

Four analysts have an average “Strong Buy” on Atai stock, with a 12-month stock target of $9. This reflects a 500% increase from the previous price, according to StockAnalysis.