 Who buys stocks when the market falls? Analysis of insider trades on May 15 While retail investors panic, top managers of large companies are buying up shares of their own companies. Here's who put real money on the table last week. Medicine and biotech — main focus The largest purchases were in this sector. Genedx Holdings (WGS) — director Keith Meister bought shares for $13.7 million at $39.19, increasing his stake by 7%. Pulse Biosciences (PLSE) — director Robert Duggan bought for $12.9 million at $19.69, +660 thousand shares. Sensei Biotherapeutics received $1.2 million from Millennium Management. On Holding — collective signal Founders and Co-CEOs of On Holding (ONON) — Caspar Coppetti, David Allemann, and Olivier Bernhard — all three bought shares at $36.64. Total $6.6 million. When three top managers buy synchronously, it's a strong signal of confidence. Energy and raw materials Alpha Metallurgical Resources (AMR) — director Kenneth Courtis bought for $2.8 million at $189.22. TXO Partners — Bob Simpson for $3.9 million. Valvoline (VVV) — CFO Kevin Willis increased his stake by 42%, buying for $318k. Interesting case — Nomad Foods Director Ian Ashken bought shares for $912k at $9.13 — this increased his stake by 20% immediately. One of the most aggressive signals in the selection. What this means: insiders buy with their own money, not options. When directors and CEOs invest personal millions, they see undervaluation that is not yet in public reports. Data: OpenInsider, top 25 purchases on May 15, 2026.