Insider buying on Sep 16, 2025

On Sep 16, 2025, 44 insiders at 38 companies filed 71 purchases reported on Form 4, worth $112.5M in all, with a median purchase of $9.9K. The largest was Deep Track Capital, LP, 10% owner of Lb Pharmaceuticals Inc (LBRX), who reported buying 2,000,000 shares worth $30.0M. Officers accounted for 25 purchases, directors who are not officers for 32, and 10% owners with no board or officer role for 14. Chief executives and chief financial officers filed 12 purchases: Martell Frank, Chief Executive Officer, Director of SmartRent, Inc. (SMRT); Lee Tien-Li, Chief Executive Officer, Director, 10% owner of Aardvark Therapeutics, Inc. (AARD); Piconi Robert, Chief Executive Officer, Director, 10% owner of Energy Vault Holdings, Inc. (NRGV) among others. 15 companies showed cluster buying, two or more insiders buying within 7 days, among them MTDR (7 insiders), CTO (5 insiders), FRPT (5 insiders), EONR (5 insiders). For 13 insiders of 44, this was the first purchase of that company's stock on our record. That is fewer than the 111 purchases filed on Sep 15, 2025. A Form 4 is due within two business days of the trade, so most of these purchases were made earlier in the week. Code P also covers shares bought privately from the company, so one large figure can be a negotiated placement rather than buying on the exchange.