One of the major owners of Axcella Health (NASDAQ:AXLA) engaged in a huge insider buy transaction yesterday. Societe des Produits Nestle S.A. bought 3,658,536 shares of AXLA stock at an average price of $1.64 per share, worth $6 million.
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Based in the U.S., Axcella Health, Inc. is a biotechnology company that focuses on the research and development of novel multifactorial interventions to support health and address dysregulated metabolism across a broad spectrum of consumers and patients with limited options.
With the recent Buys, the firm now owns 15.11% (11.11 million shares) of the total AXLA shares outstanding, with a value of $19.88 million.
Interestingly, TipRanks also provides a list of hot stocks that boast either a Very Positive or Positive insider confidence signal.
Is Axcella Health a Buy?
The Wall Street community is clearly optimistic about the stock. Overall, the stock commands a Strong Buy consensus rating based on five unanimous Buys. AXLA stock’s average price target of $7.75 implies a whopping 378.4% upside potential from current levels.
Further, it’s not just corporate Insiders that are bullish on the stock. Axcella Health stock has a positive signal from hedge fund managers, who added 1.6 million shares during the last quarter.
On top of that, TipRanks’ Stock Investors tool shows that investors currently have a Very Positive stance on Axcella Health, with 8.4% of investors on TipRanks increasing their exposure to AXLA stock over the past 30 days.
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