Tesla, Avago among Monday's market cap stock movers

This article summarizes the most significant insider buys and sells from Friday, December 27, 2024, for US stocks.

Top Insider Buys:

Oncocyte Corp (NASDAQ:OCX): Patrick W. Smith, a significant shareholder of Oncocyte Corp, substantially increased his stake in the company by purchasing 90,219 shares at $2.13 per share, totaling approximately $192,166. This transaction boosted his total holdings to 1,773,903 shares, held indirectly through the Smith Irrevocable Trust. The purchase is notable as the stock is trading near its 52-week low of $1.97, with analyst price targets ranging from $4.00 to $4.25. Oncocyte Corp. has recently made significant progress in its diagnostic research, revealing the potential of its DetermaCNI™ assay for diagnosing central nervous system tumors, which could impact approximately 300,000 U.S. patients annually.

Zymeworks Inc . (NASDAQ:ZYME): EcoR1 Capital, LLC, a prominent investment firm, significantly increased its holdings in Zymeworks Inc. with a series of stock purchases totaling approximately $1.88 million. The transactions occurred over three consecutive days, involving the acquisition of 130,309 shares of common stock at prices ranging from $14.1241 to $14.4914 per share. Following these transactions, EcoR1 Capital's total holdings in Zymeworks amounted to 14,822,590 shares. Zymeworks has demonstrated strong momentum with a 72% price return over the past six months.

Quoin Pharmaceuticals, Ltd. (NASDAQ:QNRX): Michael Myers, the Chief Executive Officer of Quoin Pharmaceuticals, increased his stake in the company by acquiring 555,556 ordinary shares at $0.45 per share, amounting to a total investment of $250,000. In addition to the shares, Myers also acquired Series F and Series G Warrants, each giving him the right to purchase an additional 555,556 shares. These transactions were part of Quoin Pharmaceuticals' public offering. Analysts maintain a bullish outlook on QNRX with price targets ranging from $1.50 to $10.00.

Prospect Capital Corp (NASDAQ:PSEC): John F. Barry, the Chief Executive Officer of Prospect Capital Corp, acquired 2 million shares of the company's common stock at $4.29 per share, totaling approximately $8.58 million. Following this acquisition, Barry's direct ownership stake increased to 79,477,549 shares, with an additional indirect holding of 332,060 shares attributed to his spouse. This move reflects Barry's continued confidence in the company's prospects, particularly noteworthy given PSEC's 21-year track record of consistent dividend payments.

Top Insider Sells:

DraftKings Inc. (NASDAQ:DKNG): Paul Liberman, an insider at DraftKings Inc., sold 1,000,000 shares of the company's stock at an average price of $35.09, resulting in a total transaction value of approximately $35.09 million. Additionally, Liberman exercised stock options to acquire 88,441 shares at a price of $0.63 per share, totaling $55,717. Following these transactions, Liberman holds various shares in different trusts.

Broadcom Inc. (NASDAQ:AVGO): Hock E Tan, President and CEO of Broadcom Inc., sold 45,000 shares of the company's common stock at an average price of $239.96, amounting to a total transaction value of approximately $10.8 million. Following this sale, Tan holds 842,836 shares directly and an additional 1,131,910 shares indirectly through a trust.

Robinhood Markets , Inc. (NASDAQ:HOOD): Daniel Martin Gallagher Jr., the Chief Legal Officer of Robinhood Markets, Inc., sold 300,000 shares of the company's Class A common stock under a Rule 10b5-1 trading plan. The shares were sold at a weighted-average price of $37.5056, resulting in a total sale value of approximately $11.3 million. Following this transaction, Gallagher retains direct ownership of 806,955 shares of Robinhood stock.

Photronics Inc. (NASDAQ:PLAB): Lee Kang Jyh, the Chief Executive Officer of Photronics Inc., sold 17,500 shares of the company's common stock at a price of $24.00 each, amounting to a total transaction value of $420,000. Following the sale, Lee retains ownership of 528,350 shares in Photronics.

Walmart Inc. (NYSE:NYSE:WMT): Douglas McMillon, President and CEO of Walmart Inc., sold 29,124 shares of the company's common stock at an average price of $92.3549 per share, amounting to approximately $2.7 million. Following this transaction, McMillon holds 3,785,702 shares directly, with additional indirect ownership through various trusts and a 401(k) plan.

Investors should stay tuned to insider buying and selling activity as it can provide valuable insights into a company's prospects. While insider transactions alone should not be the sole basis for investment decisions, they can offer clues about management's confidence in the company's future performance. However, it's important to consider these transactions in the context of broader market trends, company fundamentals, and individual investment goals.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Investing.com – International Business Machines’ planned takeover of HashiCorp (NASDAQ:HCP) could be under threat after the UK’s antitrust watchdog said it was considering whether such a deal would affect competition.

The Competition and Markets Authority said on Monday that it was inviting comments from interested parties by Jan. 16. The regulator set a provisional Feb. 25 deadline to decide whether to clear the deal or refer it for a further in-depth investigation.

IBM (NYSE:IBM) said in April that it agreed to buy the cloud-software company HashiCorp in a deal with an enterprise value of $6.4 billion, expanding its cloud-based software products to tap into an AI-powered boom in demand.

Software (ETR:SOWGn) has been a bright spot for IBM as its consulting business grapples with more cautious spending by enterprises navigating higher interest rates.

At 08:35 ET (13:35 GMT), IBM stock fell 0.8% and HashiCorp stock dropped 0.2%.

Investing.com -- US stock futures slipped slightly lower Monday, as a generally positive 2024 draws close to the end.

Here are some of the biggest premarket US stock movers today:

• Boeing (NYSE:BA) stock fell 3.4% after a devastating air accident in South Korea, involving a Boeing 737-800, claimed the lives of 179 people on Sunday when a passenger plane crash-landed at Muan International Airport.

• Nvidia (NASDAQ:NVDA) stock fell 1.5%, with the US chipmaker Nvidia set to launch its latest generation of compact computers designed for humanoid robots, dubbed Jetson Thor, in the first half of 2025.

• Tesla (NASDAQ:TSLA) stock fell 2.4%, hurt by higher US yields, while UBS expects the EV manufacturer to announce its Q4 2024 delivery numbers on Jan. 2, with the bank’s analysts forecasting approximately 510,000 units, reflecting a 5% year-over-year and 10% quarter-over-quarter increase.

• Apple (NASDAQ:AAPL) stock fell 1.1% after Chinese rival Huawei cut the prices of a variety of high-end devices, including mobile phones, over the weekend on one of China's leading e-commerce platforms.

• Coinbase (NASDAQ:COIN) stock fell 2.1%, with the cryptocurrency exchange suffering due to the losses in bitcoin, the world’s most popular digital currency.

• American Airlines (NASDAQ:AAL) stock rose 0.2% after Raymond (NS:RYMD) James upgraded its stance on the carrier to "outperform" from "market perform", citing an attractive risk-reward, which reflects an improved revenue outlook following the early-December update.