One of the major owners at Dice Therapeutics (NASDAQ:DICE) engaged in a huge insider buy transaction yesterday. Ra Capital Management, Llc bought 1,640,000 shares of DICE stock at an average price of $36.50 per share, worth $59.86 million.
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Based in the U.S., Dice Therapeutics is a biopharmaceutical company underpinning a proprietary technology platform to create a pipeline of novel oral therapeutic candidates to treat chronic diseases in immunology and other therapeutic areas.
With the recent Buys, the firm now owns 14.75% (6.85 million shares) of the total DICE shares outstanding, with a value of $232.79 million. While corporate Insiders are bullish on the stock, Dice Therapeuticsstock has a negative signal from hedge fund managers, who sold 358.1K shares during the last quarter.
Interestingly, TipRanks also provides a list of hot stocks that boast either a Very Positive or Positive insider confidence signal.
Is Dice Therapeutics a Buy?
The Wall Street community is clearly optimistic about the stock. Overall, the stock commands a Strong Buy consensus rating based on six unanimous Buys. Dice Therapeutics’ average price target of $66 implies a 96.49% upside potential from current levels.
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