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

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1. Revolution Medicines, Inc. (NASDAQ:RVMD)

Highest Individual Purchase: $34,999,974.00

Number of Purchases Worth Between $20 million and $35 million: 2

Market Capitalization: $7.57 billion

First among 10 stocks with at least $20 million in insider spending recently is a clinical-stage oncology company that focuses on providing targeted therapies for RAS-driven cancers, Revolution Medicines. Redwood City, California-based company’s pipeline includes RAS(ON) inhibitors designed to suppress diverse oncogenic variants of RAS proteins. Its several RAS(ON) inhibitors are, currently, in clinical development.

On December 5, one insider acquired $35 million worth of Revolution Medicines shares at a price of $46 per share. The purchase was part of the company’s $750 million stock offering. The company planned to sell more than 14.1 million shares at $46 each, plus pre-funded warrants for an additional 2.17 million shares. Prominent banks like JP Morgan and Goldman Sachs led the deal.

Currently, the stock is trading at $38.34 per share, having declined 12.35% since the beginning of the year.

For 2024, the company disclosed zero revenue, compared to $11.6 million in 2023. The decrease in revenue was due to the termination of the company’s collaboration agreement with Sanofi in 2023. Net loss was $600.1 million, compared to net loss of $436.4 million in 2023.

Thirteen analysts have an average “Buy” rating on Revolution stock, with a price target of $66.31, according to MarketBeat.

Overall, RVMD is first among the 10 stocks with at least $20 million in insider spending recently. While we acknowledge the potential of RVMD, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than RVMD but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap

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