Weekly Insider Trading Report: December 28, 2025 - January 4, 2026

Executive Summary

• The insider trading activity for the week displayed a buy-sell ratio of 0.25, indicating a significantly higher volume of sells compared to buys.
• Total insider purchases amounted to $7.82 billion, while total sales reached $2.23 billion, highlighting a strong inclination among insiders to liquidate positions.
• The largest single buy transaction was executed by GENMAB A/S for the stock MRUS, totaling $7.36 billion for 75,867,199 shares.
• ROIV dominated the sell side, with Sukhatme Mayukh conducting multiple sales, each valued at approximately $22.12 million for 1,018,995 shares.
• Insider buying concentrated primarily in biotechnology and healthcare sectors, signaling potential confidence in upcoming developments.

Top Conviction Buys

Significant Non-10b5-1 Purchases

1. MRUS - GENMAB A/S

   • Total Value: $7,359,118,303.00
   • Shares: 75,867,199
   • Price: $97.00
   • Trade Date: December 29, 2025
   • Transaction Type: Buy

2. MRUS - GENMAB A/S

   • Total Value: $102,122,182.00
   • Shares: 1,052,806
   • Price: $97.00
   • Trade Date: December 29, 2025
   • Transaction Type: Buy

3. TPG GP A, LLC

   • Total Value: $100,000,000.00
   • Shares: 3,976,000.859
   • Price: $25.1509
   • Trade Date: December 29, 2025
   • Transaction Type: Buy

4. UA - WATSA V PREM ET AL

   • Total Value: $59,142,220.50
   • Shares: 11,504,478
   • Price: $5.1408
   • Trade Date: December 30, 2025
   • Transaction Type: Buy

5. NONE - TEACHERS INSURANCE & ANNUITY ASSOCIATION OF AMERICA

   • Total Value: $29,999,995.20
   • Shares: 1,199,520
   • Price: $25.0100
   • Trade Date: December 30, 2025
   • Transaction Type: Buy

Risk Radar

Notable Sells and Warning Signs

• ROIV - Sukhatme Mayukh

  • Total Value: $22,122,381.45 (per transaction)
  • Shares: 1,018,995
  • Price: $21.7100
  • Trade Date: December 31, 2025
  • Transaction Type: Sell
  • Multiple identical transactions indicate a potential lack of confidence or an impending negative sentiment regarding the company.

• The high volume of insider sells (716 transactions) relative to buys (179 transactions) may indicate a cautious or bearish outlook among company insiders across various sectors, particularly in biotech and healthcare.

Market Sentiment Analysis

The insider trading activity suggests a cautious sentiment prevailing among market participants. The significant number of sales relative to buys reflects a potential warning signal regarding market conditions or individual company performance. The elevated buying by GENMAB A/S in MRUS may represent a strategic investment; however, the overall trend in selling raises concerns about underlying market fundamentals.

Investment Opportunities

• MRUS could present a compelling investment opportunity given the substantial insider buying from GENMAB A/S, indicating strong confidence in the company’s future prospects.
• UA also merits attention due to insider purchases at relatively lower price points, suggesting potential for upside amidst broader market caution.
• Investors should monitor the ROIV stock closely, as the pattern of sales by insiders could signal volatility or a potential downturn, making it a candidate for short-selling strategies or caution in acquiring new positions.

In conclusion, while there are noteworthy opportunities for investment, the prevailing trend of insider sells should be taken into account, prompting a thorough analysis of individual stocks and broader market conditions.