In this article, we will take a look at the 5 healthcare stocks with insider buying. To see more such companies, go directly to 10 Healthcare Stocks with Insider Buying.
5. Apogee Therapeutics, Inc. (NASDAQ:APGE)
Number of Hedge Fund Holders: 15
Apogee Therapeutics, Inc. (NASDAQ:APGE) is a biotechnology company that makes the treatment of atopic dermatitis (AD), chronic obstructive pulmonary disease (COPD), and related inflammatory and immunology indications.
In July this year, Fairmount Healthcare Fund, which has a director status at Apogee Therapeutics, Inc. (NASDAQ:APGE), bought about $50 million worth of APGE shares. Another insider buying transaction came in July 2023 from a company director named Nimish Shah who bought about 1.75 million shares of Apogee Therapeutics, Inc. (NASDAQ:APGE).
4. Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS)
Number of Hedge Fund Holders: 18
Virginia-based company Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) ranks 4th in our list of the top healthcare stocks with insider buying. Ra Capital Healthcare Fund Lp, a director and 10% owner at Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS), bought about 5.16 million shares of the company at $7.75 per piece. The total value of this insider transaction was about $40 million. As of August 9 Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) is trading at $7.
Recently, Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) posted second-quarter results. Its GAAP EPS in the quarter came in at -$0.28 beating estimates by $0.07. As of the end of June, Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS)’s cash, cash equivalents and marketable securities totaled $172.2 million, down from $183.8 million as of March 31, 2023.
3. ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)
Number of Hedge Fund Holders: 29
California-based ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) ranks 3rd in our list of the healthcare stocks with insider buying. Baker Bros. Advisors Lp., with a director and 10% owner status, bought about 896,522.00 shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) at $25.33 per share in June. As of August 9 ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) was trading at $26.72. Over the past 30 days ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) has gained about 7.8%.
In August ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) posted second quarter results. GAAP EPS in the quarter came in at $0.01 beating estimates by $0.07. Revenue in the quarter jumped 22.8% year over year to $165.3 million, surpassing estimates by $7.46 million.
As of the end of the first quarter of 2023, 29 hedge funds out of the 943 funds tracked by Insider Monkey reported owning shares in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD). The biggest stakeholder of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) was Julian Baker and Felix Baker’s Baker Bros. Advisors with a $789 million stake in the company.
2. Royalty Pharma plc (NASDAQ:RPRX)
Number of Hedge Fund Holders: 31
US-based Royalty Pharma plc (NASDAQ:RPRX)’s CEO Pablo Legorreta in May bought about $7.7 million worth of RPRX shares at $33.38 per share. The executive continued to amass Royalty Pharma plc (NASDAQ:RPRX)’s shares in June too, with the latest insider buying transaction coming in late June when he bought 130,000 shares of the company. As of August 9 Royalty Pharma plc (NASDAQ:RPRX) is trading at $30.55.
As of the end of the first quarter of 2023, 31 hedge funds tracked by Insider Monkey reported owning stakes in Royalty Pharma plc (NASDAQ:RPRX). The biggest stakeholder of Royalty Pharma plc (NASDAQ:RPRX) during this period was Andreas Halvorsen’s Viking Global which owns a $404 million stake in the company.
1. Akero Therapeutics, Inc. (NASDAQ:AKRO)
Number of Hedge Fund Holders: 31
Akero Therapeutics, Inc. (NASDAQ:AKRO) ranks 1st in our list of the healthcare stocks with heavy insider buying activity in 2023. Akero Therapeutics, Inc. (NASDAQ:AKRO) is a cardio-metabolic company developing transformational treatments for non-alcoholic steatohepatitis (NASH).
Graham Walmsley, a director at Akero Therapeutics, Inc. (NASDAQ:AKRO), has been amassing Akero shares in 2023. In May, the director bought 520,000 shares of Akero Therapeutics, Inc. (NASDAQ:AKRO) at $29.69 per share. On August 9 Akero Therapeutics, Inc. (NASDAQ:AKRO) was trading at around $42.97. This way, since the insider buying transaction, Akero Therapeutics, Inc. (NASDAQ:AKRO) has gained about 44%.
As of the end of the first quarter of 2023, 31 hedge funds in Insider Monkey’s database had reported owning stakes in Akero Therapeutics, Inc. (NASDAQ:AKRO). The biggest stakeholder of Akero Therapeutics, Inc. (NASDAQ:AKRO) during this period was Panayotis Takis Sparaggis’s Alkeon Capital Management which owns a $123.2 million stake in the company.
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