Weekly Insider Trading Report

Period: January 18 - January 25, 2026

Executive Summary

• During the reporting period, insider activity showed a significant imbalance with 319 sell transactions compared to only 68 buy transactions, resulting in a buy-sell ratio of 0.21.
• The total value of insider selling reached $298,055,598.52, dwarfing the total buying activity of $3,760,216.89.
• Notably, the most significant transaction was from Steven Leonard Chapman of NTRA, who sold shares valued at approximately $16.89 million.
• Several insiders, including directors and other executives, engaged in multiple transactions, indicating potential strategic repositioning or profit-taking.
• The predominant selling pattern raises concerns regarding future stock performance and market sentiment.

Top Conviction Buys

Significant Non-10b5-1 Purchases

1. TCGSX

   • Insider: Leonard M. Tannenbaum, Director
   • Transaction Type: Buy
   • Total Value: $1,000,000.00
   • Shares: 98,911.9680
   • Price: $10.1100
   • Trade Date: January 21, 2026

2. ALLY

   • Insider: Michael George Rhodes, Other
   • Transaction Type: Buy
   • Total Value: $991,867.38
   • Shares: 23,800.0000
   • Price: $41.6751
   • Trade Date: January 23, 2026

3. ASA

   • Insider: Saba Capital Management, L.P., Other
   • Transaction Type: Buy
   • Total Value: $246,015.84
   • Shares: 3,723.0000
   • Price: $66.0800
   • Trade Date: January 20, 2026

4. COSM

   • Insider: Grigorios Siokas, Other
   • Transaction Type: Buy
   • Total Value: $524,999.67 (total for three transactions)
   • Shares: 1,059,963.0000 (total for three transactions)
   • Price: $0.4953
   • Trade Date: January 21, 2026

5. SLGL

   • Insider: Opaleye Management Inc., Other
   • Transaction Type: Buy
   • Total Value: $122,922.48
   • Shares: 2,173.0000
   • Price: $56.5681
   • Trade Date: January 22, 2026

Risk Radar

Notable Sells and Warning Signs

1. NTRA

   • Insider: Steven Leonard Chapman, Other
   • Transaction Type: Sell
   • Total Value: $16,885,507.77 (total for three transactions)
   • Shares: 71,932.0000 (total for three transactions)
   • Price: $234.7384
   • Trade Date: January 20, 2026

2. SNOW

   • Insider: Frank Slootman, Director
   • Transaction Type: Sell
   • Total Value: $15,825,229.48 (total for two transactions)
   • Shares: 151,502.0000 (total for two transactions)
   • Price: $206.6690 and $207.4770
   • Trade Date: January 20, 2026

3. AEO

   • Insider: Jay L. Schottenstein, Director
   • Transaction Type: Sell
   • Total Value: $13,621,269.69
   • Shares: 527,343.0000
   • Price: $25.8300
   • Trade Date: January 21, 2026

Summary of Risks

The overwhelming volume of insider selling, particularly from high-ranking executives, presents a bearish sentiment that may signal a reassessment of company valuations or future prospects.

Market Sentiment Analysis

The current insider trading data suggests a cautious market sentiment, heavily influenced by substantial selling activity. The significant sell-off by high-profile insiders, such as those from NTRA and SNOW, suggests that insiders may anticipate potential headwinds or volatility ahead. The stark disparity between buying and selling activities (with sells outpacing buys by a factor of nearly five) could indicate a lack of confidence in the market or specific sectors.

Investment Opportunities

Potential Buys

• TCGSX and ALLY show promise with substantial insider purchases at strategic price points. Monitoring their performance may yield potential entry points for long-term investments.
• COSM's multiple insider purchases at a low price point may indicate a rebound opportunity, especially if the company shows signs of operational improvement or strategic initiatives.

Caution on Sells

Investors should exercise caution regarding stocks with heavy insider selling, particularly NTRA, SNOW, and AEO, as insider sentiment may reflect broader market conditions or company-specific challenges.

This report serves as a comprehensive overview of insider trading activities and should be utilized to guide investment decisions and strategies in the upcoming week.