The 5 biggest insider stock buys of last week

FILE PHOTO: A nearly empty trading floor is seen at the New York Stock Exchange (NYSE) in New York, U.S., May 22, 2020. REUTERS/Brendan McDermid/File Photo
  • Here are the five top insider stock buys from last week.
  • Companies include: Verve Therapeutics, Asana, Circuit, Transocean, and Zimmer Energy Transition Acquisition Corp.
  • One of the firms had a public debut, which spurred buying sprees.

Insider is watching which corporate executives are making big bets on their own companies. Here are the five companies that saw the biggest combined stock purchases from insiders during the period from June 17 through June 25, according to data compiled by Insider Monitor.

1. Verve Therapeutics – $46,996,500

On June 21, chief scientific officer Andrew Bellinger bought 5,000 shares, totaling $95,000. On the same day, CEO Sekar Kathiresan bought 2,500 shares amounting to $47,500 and vice president of finance Margaret Beaudoin bought 1,000 at a value of $19,000.

As for 10% owners, Casdin Partners Master Fund bought 1.1 million shares to total $20.9 million, while Logos Global Management and Rock Springs Capital each bought 370,000 shares, amounting to around $7 million apiece.

Novo Holdings bought 50,000 to total $6.7 million, while and Cormorant Private Healthcare Fund bought 275,000 to amount to $5.2 million. All transactions occurred at $19 per share.

Verve on June 21, closed its previously announced IPO of 16,141,157 common shares at $19 per share.

2. Asana – $45,328,960

On June 21, CEO, president, and chair Dustin Moskovitz bought 160,000 at $59.39 per piece, amounting to $9.5 million.

He bought 160,000 shares the following two days – at $56.98, amounting to $9.1 million on June 22, and at $58.63, which totaled to $9.3 million on June 23.

The previous week, on June 17, he also bought 160,000 shares at $52.31 to total $8.4 million. Moskowitz also bought 160,000 shares at $56 on June 18, amounting to roughly $9 million.

3. Circuit – $36,997,097

Colin Moran, a 10% owner of Circuit, went on a buying spree last week.

On June 21 he bought 36,584 at $33.70 per share, amounting to around $1.2 million. He bought 60,854 shares on June 22 at $33.50 each, totaling roughly $2 million, and 500,000 shares on June 23 at $33.03 per share, his biggest purchase for the week, totaling $16.5 million. For his last purchase for the week, he bought 394,793 shares at $33.69, amounting to $13.3 million.

The previous week, in two separate transactions, Moran purchased 47,770 shares worth $1.6 million and 69,266 shares at a value of $2.3 million.

Cricut is a technology platform company with a valuation of $9.3 billion.

4. Transocean – $36,963,000

On June 21, Perestroika AS – a Norwegian investment firm where Frederik Wilhelm Mohn is the chair, CEO, and founder – bought 1 million shares at $4.09 a piece amounting to $4.1 million.

The next day, the firm bought the same amount of shares at $4.20, amounting to $4.2 million. Perestroika also bought $7.5 million worth of shares on June 17 and $3.9 million of stock on June 18.

Interlaced with his company transactions, Mohn himself bought shares as well. From June 21 to 24, he purchased one million shares per day, for a total of roughly $17 million.

5. Zimmer Energy Transition Acquisition Corp. – $35,000,000

On June 18, Boston-based property management company Sequentis Financial purchased 3,500,000 shares at $10 a piece, amounting to $35 million.

Zimmer Energy Transition, a SPAC led by Stuart Zimmer, on June 18 announced the closing of its IPO of 34,500,000 units at a $10 per unit.