4 Oversold Biotech Stocks Being Snapped Up By Insiders

|
 |  Includes: CORT, GNOM, MDVN, MNKD
by: Kapitall

If you like to follow the buying trends of company insiders, you may be interested in this list.

We ran a screen on technically oversold stocks [with RSI(14) below 40] from the biotech industry for those that have seen significant net insider buying over the last six months.

Interactive Chart: Press Play to compare changes in analyst ratings over the last two years for the stocks mentioned below. Analyst ratings sourced from Zacks Investment Research.

We also created a price-weighted index of the stocks mentioned below, and monitored the performance of the list relative to the S&P 500 index over the last month. To access a complete analysis of this list's recent performance, click here.


(Click to enlarge)

Do you think insiders are calling it right on their companies? Use this list as a starting-off point for your own analysis.

List sorted by net insider purchases as a percent of share float.

1. Complete Genomics, Inc. (NASDAQ:GNOM): Biotechnology Industry. Market cap of $268.86M. RSI(14) at 38.60. Net insider purchases over the last six months at 1.65M, which is 16.55% of the company's 9.97M share float. The stock is a short squeeze candidate, with a short float at 6.42% (equivalent to 5.28 days of average volume). The stock has performed poorly over the last month, losing 38.46%.

2. MannKind Corp. (NASDAQ:MNKD): Biotechnology Industry. Market cap of $347.07M. RSI(14) at 38.54. Net insider purchases over the last six months at 3.48M, which is 4.39% of the company's 79.29M share float. The stock is a short squeeze candidate, with a short float at 26.11% (equivalent to 23.5 days of average volume). The stock has performed poorly over the last month, losing 22.97%.

3. Corcept Therapeutics Inc. (NASDAQ:CORT): Biotechnology Industry. Market cap of $250.07M. RSI(14) at 37.61. Net insider purchases over the last six months at 556.90K, which is 1.10% of the company's 50.80M share float. The stock has performed poorly over the last month, losing 21.84%.

4. Medivation, Inc. (NASDAQ:MDVN): Biotechnology Industry. Market cap of $549.48M. RSI(14) at 33.33. Net insider purchases over the last six months at 87.52K, which is 0.40% of the company's 21.86M share float. The stock is a short squeeze candidate, with a short float at 6.95% (equivalent to 5.61 days of average volume). The stock has performed poorly over the last month, losing 25.26%.

*Insider data sourced from Yahoo! Finance, all other data sourced from Finviz.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.