Reddit, KKR, and 2 Biotech IPOs Seeing the Love From Insiders

By Trey Thoelcke Published Feb 16, 8:40AM EST

24/7 Wall St. Key Points

KKR (KKR), Reddit (RDDT), SpyGlass Pharma (SGP), and Veradermics (MANE) saw huge insider buying in the past week.
Insider buying can signal management’s confidence in a company’s future prospects.
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Reddit, KKR, and 2 Biotech IPOs Seeing the Love From Insiders — © stockcam / iStock Unreleased via Getty Images

Four stocks seeing the most notable insider purchases in the past week or so were biotechs SpyGlass Pharma (NASDAQ: SGP) and Veradermics (NYSE: MANE), as well as KKR (NYSE: KKR | KKR Price Prediction) and Reddit (NYSE: RDDT).

Insider buying is generally viewed as a bullish signal. While insiders may sell for many reasons (taxes, diversification, buying a home), they typically only buy for one reason: they believe the price will rise. It can signal management’s confidence in the company’s future prospects or internal turnaround. Furthermore, it often suggests that the stock is undervalued by the market, especially if the purchase is made during a period of price weakness.

Let’s take a quick look at these four transactions.

SpyGlass Pharma

Beneficial owners RA Capital Management and New Enterprise Associates (NEA) participated in a large private placement or follow-on offering. RA Capital added almost 3.7 million shares, while NEA added 937,500 shares, both at the initial public offering price of $16.00 per share.

SpyGlass recently announced positive Phase 2 data for its intraocular drug delivery system for glaucoma. The stock is trading near $28.20, above the IPO price. Analysts are highly bullish, with a Strong Buy consensus rating, citing the potential to disrupt the $5 billion glaucoma market.

Veradermics

Suvretta Capital Management, a 10% owner, purchased 282,700 shares executed in multiple tranches at a weighted average price of approximately $36.50, totaling $10.5 million. Suvretta has been aggressively accumulating shares over the past six months, increasing its stake by nearly 20% in that period.

Veradermics recently received an Overweight rating from Wells Fargo, following the successful enrollment of its Phase 3 trial for molluscum contagiosum. The share price is currently $43.46, meaning the insider is already up about 19% on the trade. Wall Street is positive on the stock.

A director purchased 50,500 shares in a range of $139.11 to $150.00 apiece, for a total of almost $7.5 million. This is one of the first major open-market purchases by a director since the IPO lock-up period ended.

Reddit’s stock has been volatile following its recent earnings report, which showed strong user growth but increased R&D spending on AI search tools. The stock is trading at $139.65, within the director’s purchase price range. Analysts remain mostly bullish, focusing on Reddit’s high-margin data licensing deals with LLM developers.

KKR

A director purchased 50,000 shares on February 9, 2026, at prices ranging from $104.36 to $107.10 per share, totaling over $5.2 million. This director has made several million-dollar purchases over the past two years, consistently buying during minor pullbacks.

KKR recently reported record assets under management exceeding $740 billion. The stock has retreated 22.5% in the past month and was last seen changing hands for less than the buyer’s purchase price range. Analyst sentiment is a bullish, as private equity firms benefit from the reopening of the IPO market.

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About the Author Trey Thoelcke →

Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.

Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community. He previously oversaw the 24/7 Climate Insights site, managing editorial operations and content strategy, and currently oversees and creates content for My Investing News.

Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.

Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, overseeing a long-running critique group and moderating workshop sessions at regional conventions. He lives with his family in an old house in the Midwest.