by Ian Cooper

Insiders are actively buying beaten-down stocks.

“While stocks were getting hammered into a brief correction last week, driving the S&P 500 Index to erase some $5 trillion in equity value, corporate insiders returned to buy the dip. A gauge of insider sentiment from the Washington Service shows that with two more weeks to go in March, the ratio of buyers to sellers rose to 0.46, up from 0.31 in January. That puts the measure on pace for the highest monthly reading since June and back near its historical average,” as reported by Bloomberg.

Here’s where insiders are putting their money where their mouths are.

American Express (AXP)

On March 7, director Michael Angelakis bought a total of $998,593 worth of American Express shares at a price of $269.89 per share. Technically, AXP does look interesting. After dropping from about $320 to $254, the oversold stock is starting to pivot higher again. It’s also seeing a reversal on RSI, MACD and Williams’ %R.

From its current price of $270.83, we’d like to see AXP retest $290 initially.

Asana (ASAN)

Oversold, Asana (ASAN) are also seeing insider buying.

President, CEO and Chair of Asana, Dustin Moskovitz just paid about $9.55 million for 675,000 shares of the beaten-down stock.

The stock dropped on weak earnings and guidance. Both of which missed estimates. Plus, there was an announcement that Moskovitz would retire. However, with all of the negativity now priced into the stock, ASAN does look attractive at current prices.

Cartesian Therapeutics (RNAC)

Director Timothy Springer just bought 89,863 shares in late March for about $1.37 million.

Most recently, the company said it had a strong cash position of $214.3 million, which would provide it a runway into 2027. It received a US FDA Special Protocol Assessment agreement for its Phase 3 AURORA trial for myasthenia gravis. And it saw a substantial reduction in its net loss of $77.4 million in 2024 from $219.7 million in 2023.