The most significant insider buy on today's list comes via a Form 4 filing by U.S. Bancorp $USB director Aleem Gillani.

Gillani reported the acquisition of 10,000 shares, equivalent to $449,900.

Here’s The Hot Corner, with data from July 18, 2024:

Boxer Capital LLC filed a 13G for uniQure N.V. $QURE revealing an initial stake of 5.10%.

After a prolonged decline since January 2022, US Bancorp stopped going down last year.

After price emerged from a rounding bottom formation, the stock transitioned into a sideways consolidation.

With a monster regional bank rally over the past two weeks, USB is right back at the upper bounds of its range.

We think it breaks out this time. 

Have a great weekend. We'll be back on Monday with more insider activity.

The most significant insider buy on today's list comes via a 13D filing by Gates Capital Management.

The investment firm revealed an increase in ownership from 9.45% to 9.60% in Vista Outdoor Inc $VSTO.

Here’s The Hot Corner, with data from July 17, 2024:

Perceptive Advisors LLC reported an increase in its ownership stake from 7.10% to 12.80% in Orchestra BioMed Holdings Inc $OBIO.

VST is resolving higher from a rounding bottom pattern.

As long as we’re above the 2023 highs, this is a valid trend reversal, and the path of least resistance points higher.

Stay tuned. We'll be back on Friday with more insider activity.

And please reach out with any questions. We love hearing from you!

The most significant insider buy on today's list comes via a 13D filing by Starboard Value LP.

Earlier in the week, the hedge fund revealed an original stake of 6.60% in Match Group Inc $MTCH.

Starboard has already sent a letter to executives and the board, which you can access here.

Here’s The Hot Corner, with data from July 16, 2024:

Two directors of Zevra Therapeutics Inc $ZVRA, John B. Bode and Thomas Anderson, filed Form 4s revealing purchases of a combined amount of $146,629.

After a prolonged decline since October 2021, MTCH stopped going down late last year.

As you can see, price is building a short-term bottom as it threatens to break higher from a falling wedge.

If there's a place and a moment for bulls to take control, we think this is it.

MTCH also...

The most significant insider buy on today's list comes via a Form 4 filing by AP Moller Holdings.

The investment company reported an additional purchase of $28.9 million in Noble Corporation $NE.

Viking Global Investors filed a 13G for Longboard Pharmaceuticals $LBPH revealing an initial stake of 5.20%.

Here’s The Hot Corner, with data from July 15, 2024:

In another Form 4, Michelle O'Hara, executive vice president and chief human resources officer of Science Applications International Corporation $SAIC, bought 1,000 shares of her own company’s stock.

Over in Washington, Sen. Markwayne Mullin of Oklahoma revealed a purchase worth between $15,000 and $50,000 in...

The most significant insider buy on today's list comes via a Form 4 filing by Abdiel Capital LP.

The investment firm reported a purchase of $18 million in Appian Corporation $APPN.

Here’s The Hot Corner, with data from July 12, 2024:

Deep Track Capital filed a 13G for Verona Pharma plc $VRNA revealing an initial stake of 5.08%.

VRNA came public in May 2017 and has been building a monster base since its IPO.

Last week, price reclaimed the AVWAP from last year's highs with authority, and VRNA is now approaching another critical resistance level:

The bias is sideways for longer if price remains stuck in the range. However we have a clear level at approximately 26.50.

If and when buyers lift prices above that area of ​​overhead supply, VRNA could finally take off.

Stay tuned. We'll be back on...

From the Desk of Steve Strazza @Sstrazza and Alfonso Depablos @AlfCharts

Welcome to the Hot Corner Insider Weekly Report!

As you know, we spend a lot of time tracking insider activity to come up with this universe.

But that’s only half the battle!

Once we identify the names insiders are targeting, we overlay our expert technical analysis to see if the market agrees with their actions.

While we track some of the most powerful and well-informed market participants… we aren’t just going to follow them blindly into their trades.

We want to see that the insider activity is confirmed by the trend before we get involved. 

When we can check both boxes, we identify asymmetric risk/reward setups and then jump in and ride these trends higher alongside the smart money.

You can...

The most significant insider buy on today's list comes via a Form 4 filing by Liberty 77 Fund L.P.

The private equity firm reported a purchase of 1,129,609 shares of Lions Gate Entertainment $LGF.A, equivalent to roughly $10 million.

Here’s The Hot Corner, with data from July 11, 2024:

The chief medical officer of Alto Neuroscience Inc $ANRO revealed a small purchase of $190,832 in his own company’s stock.

After a steep drawdown of 75% since its high in 2021, LGF.A has been carving out a bearish-to-bullish reversal pattern.

Price is currently in the middle of the range as buyers and sellers battle for control.

The bias is sideways for longer if the price remains stuck in this range.

However, if and when it gets back above 11.50, a new uptrend will be underway.

Have a great weekend. We'll...

Mario Gabelli and GAMCO Investors are back on our list.

GAMCO and Gabelli’s other funds filed a 13D revealing an increase in ownership from 7.25% to 8.74% in Astec Industries $ASTE.

Here’s The Hot Corner, with data through July 10, 2024:

Orion Resource Partners filed a 13G for Skeena Resources Limited $SKE revealing an initial stake of 14.51%.

ASTE has been trading in a well-defined range for the past eight years. Price is currently pressing on the lower bounds. 

The long-term moving average has been trending lower for some time now, indicating that sellers are in complete control.

This one is a no-touch if it’s below 27. Even if it holds this shelf of former lows, there is a lot of work to do before a new uptrend can be underway.

Stay tuned. We'll be back on Friday with more insider activity.

The most significant insider buy on today's list comes via a 13G filing by Artisan Partners Limited Partnership.

The investment management firm revealed an increase in its ownership stake in Twist Bioscience Corporation $TWST from 6.40% to 10.40%.

Here’s The Hot Corner, with data through July 9, 2024:

Director Lawrence Cheng announced the purchase of 4,140 shares of GameStop Corp $GME, worth $102,879 in total.

Cevian Capital filed a 13D for Smith & Nephew plc $SNN revealing an initial stake of 5.11%.

TWST has been in the base-building process for the past two years as buyers try to take control and force an upside resolution from this rounding bottom pattern.

Price is currently pressing against the upper bounds of this base.

We want to be patient and wait for a decisive breakout above 55 to confirm a valid reversal in the trend....

The most significant insider buy on today's list comes via a 13G filing by Philippe Laffont’s Coatue Management L.L.C.

The investment firm revealed an initial stake of 9.20% in bitcoin miner Hut 8 Mining Corp $HUT.

RA Capital Management LP also reported an original stake of 5.90% in Recursion Pharmaceuticals Inc $RXRX in a 13G filing..

Here’s The Hot Corner, with data through July 8, 2024:

Wellington Management Company revealed a new passive stake in TPG Inc $TPG of 10.16%

Wellington also reported an increase in its Customers Bancorp $CUBI position from 5.41% to 10.18%.

The relative strength from bitcoin miners has been off the charts, as they continue to trend higher in an otherwise tough tape for the broader crypto space.

Here’s Hut 8 Corp $HUT on the verge of completing a two-year bearish-to-bullish reversal pattern.

From the Desk of Steve Strazza @Sstrazza and Alfonso Depablos @AlfCharts

Welcome to the Hot Corner Insider Weekly Report!

As you know, we spend a lot of time tracking insider activity to come up with this universe.

But that’s only half the battle!

Once we identify the names insiders are targeting, we overlay our expert technical analysis to see if the market agrees with their actions.

While we track some of the most powerful and well-informed market participants… we aren’t just going to follow them blindly into their trades.

We want to see that the insider activity is confirmed by the trend before we get involved. 

When we can check both of these boxes, we identify asymmetric risk/reward setups, and then jump in...

The most significant insider buy on today's list comes via a Form 4 filing by AP Moller Holdings.

The Danish investment company reported the acquisition of 300,000 shares of Noble Corporation $NE, equivalent to $13.2 million.

Durable Capital Partners LP filed a 13G for Doximity Inc $DOCS revealing an initial stake of 5.10%.

Here’s The Hot Corner, with data through July 5, 2024:

The CFO of Dave & Buster's Entertainment Inc $PLAY bought 13,578 shares of the restaurant stock.

NE is consolidating in a well-defined range within the context of an underlying uptrend.

However, the stock has done nothing for over a year now, still trading around the same level it was in early 2023.

The 200-day moving average has been flat for the past year, confirming the absence of any real trend.

With momentum (...