12 Small cap Stocks Insiders Are Buying

Key points

• Aspen Neuroscience, Inc. insiders bought $68.00 million of stock, most recently on November 2nd, 2026.
• Bambusa Therapeutics, Inc. insiders bought $58.64 million of stock, most recently on November 2nd, 2026.
• Lyell Immunopharma, Inc. insiders bought $50.00 million of stock, most recently on November 4th, 2026.

For October 10th, 2026 to November 9th, 2026, small caps returned 0.1% while the S&P 500 returned -2.9%, per IWM versus the S&P 500, a benchmark spread of 3.1%. Screen CL-01 v1 surfaced 12 names carrying $220.9 million of open-market purchases across 60 filings and 39 filers, which measures what insiders signed for rather than what the tape did.

The backdrop

The November 6th, 2026 Bureau of Labor Statistics print showed the U-6 Unemployment Rate for October at 8, against 8 previously. Small caps feel that through domestic labour costs and consumer credit performance, because underemployment that stops rising removes one source of pressure on the regional lenders, consumer finance names and discretionary suppliers that dominate the index. Against that flat reading, aggregate insider flow in the sector was $-124.0 million on -14,687,685 shares, so the buying captured by this screen sits inside a selling net.

Aspen Neuroscience, Inc. (ASPE)

Aspen Neuroscience shows $68.00 million bought by 4 filers across 6 purchases, all dated November 2nd, 2026. ARCH Venture Partners XIV, L.P. and ARCH Venture Fund X, L.P., both filing as Other, each took 1,200,000 shares at $15.00 for $18.00 million, while ORBIMED ADVISORS LLC and Thompson Peter A., both Directors, each took 1,000,000 shares at $15.00 for $15.00 million. A single uniform price across all four filers points to a financing, not scattered accumulation.

Bambusa Therapeutics, Inc. (BBTX)

Bambusa Therapeutics shows $58.64 million bought by 3 filers across 6 purchases between October 30th, 2026 and November 2nd, 2026. RA CAPITAL MANAGEMENT, L.P., a Director filer, bought 2,335,109 shares at $16.00 for $37.36 million and a further 164,891 shares at $16.00 for $2.64 million. Salvia Investment GmbH and Jeggle Helmut Wolfgang each bought 375,000 shares at $16.00 for $6.00 million.

Lyell Immunopharma, Inc. (LYEL)

Lyell Immunopharma shows $50.00 million bought by 2 filers on November 4th, 2026. ARCH Venture Fund XIII, L.P. and ARCH Venture Partners IX, LLC, both filing as Other, each bought 2,321,262 shares at $10.77 for $25.00 million. Two matched tickets at one price is the signature of an allocated block rather than open-market price discovery.

Borr Drilling Ltd (BORR)

Borr Drilling shows $14.72 million bought by 2 filers across 4 purchases from October 13th, 2026 to October 15th, 2026. Director Troim Tor Olav bought 1,500,000 shares at $4.93 for $7.40 million, 750,000 at $4.72 for $3.54 million and 500,000 at $4.60 for $2.30 million, buying into a falling print. Chief Operating Officer Snowling Harvey Edward added 300,000 shares at $4.91 for $1.47 million.

Rapport Therapeutics, Inc. (RAPP)

Rapport Therapeutics shows $22.02 million bought by 7 filers across 11 purchases between October 21st, 2026 and October 28th, 2026. Director HEALY JAMES accounts for the bulk: 952,380 shares at $21.00 for $20.00 million, plus 6,933 shares for $145,593, 6,395 shares for $134,295 and 3,772 shares for $79,212, all at $21.00 on October 28th, 2026.

Inhibrx Biosciences, Inc. (INBX)

Inhibrx Biosciences shows $848,977 bought by 1 filer across 6 purchases, all on October 14th, 2026. Chief Executive Officer Lappe Mark bought 2,470 shares at $85.00 for $209,948, 2,451 at $85.00 for $208,333, 2,470 at $84.07 for $207,655 and 2,449 at $84.07 for $205,889. Even-sized lots at two prices suggest a worked order rather than a block.

NORTHPOINTE BANCSHARES INC (NPB)

Northpointe Bancshares shows $1.82 million bought by 4 filers across 5 purchases from October 23rd, 2026 to October 28th, 2026. Chairman and CEO Williams Charles Alan bought 50,000 shares at $15.42 for $771,215 and 50,000 at $15.32 for $766,175. Director Boer Carrie L took 12,000 shares at $15.40 for $184,762 and Director Chaudhary Rajeev Kumar 3,000 at $15.80 for $47,398. Bank insiders buying while U-6 held at 8 is the credit read worth tracking.

UPBOUND GROUP, INC. (UPBD)

Upbound Group shows $1.39 million bought by 7 filers across 9 purchases between October 27th, 2026 and November 3rd, 2026. Director BROWN JEFFREY J bought 17,645 shares at $22.67 for $400,012 and Director MARINO GLENN P 17,400 at $22.61 for $393,414. Chief Executive Officer Karam Fahmi added 4,407 shares at $22.71 for $100,083 and EVP, Chief Growth Officer Wooters Rebecca 4,325 at $23.00 for $99,475. The breadth of roles matters more here than the dollar size.

BLACKSTONE MORTGAGE TRUST, INC. (BXMT)

Blackstone Mortgage Trust shows $1.15 million bought by 2 filers on November 4th, 2026. Chief Executive Officer Johnson Timothy Steven bought 90,000 shares at $11.50 for $1.04 million and Director NASSAU HENRY N bought 10,000 at $11.43 for $114,291. For a commercial mortgage book, the labour print feeding into office and multifamily occupancy is the live variable behind that entry price.

Franklin BSP Realty Trust, Inc. (FBRT)

Franklin BSP Realty Trust shows $1.02 million bought by 2 filers across 4 purchases on November 2nd, 2026 and November 3rd, 2026. Chairman and CEO Byrne Richard J bought 162,600 shares at $6.14 for $998,364. Director ORTALE BUFORD H filed smaller tickets: 1,046 shares at $17.25 for $18,044, 871 at $5.96 for $5,191 and 147 at $17.07 for $2,509.

Gentherm Inc (THRM)

Gentherm shows $662,600 bought by 2 filers on October 23rd, 2026. Director MASCARENAS PAUL ANTHONY bought 20,000 shares at $26.63 for $532,600 and President and CEO Presley William T. bought 5,000 at $26.00 for $130,000. A same-day pairing of board and executive is the cleanest form of this screen, even at modest size against a 3.1% benchmark spread.

Liberty Energy Inc. (LBRT)

Liberty Energy shows $645,635 bought by 3 filers across 3 purchases from October 26th, 2026 to November 3rd, 2026. CEO and President Gusek Ron bought 25,000 shares at $15.09 for $377,335, Director Babcock Ken 14,500 at $15.40 for $223,300 and Chief Accounting Officer Gosney Ryan T 3,000 at $15.00 for $45,000. Three distinct roles inside a narrow price band is the detail to test.

What would change the view

• The next U-6 Unemployment Rate release: another print at the November 6th, 2026 level of 8 keeps the labour backdrop neutral for the bank and consumer finance names in this list, while a move higher would put Northpointe Bancshares and Upbound Group insider entries under direct pressure.
• Follow-on filings from the biotech block buyers: ARCH-linked entities last filed on November 2nd, 2026 at Aspen Neuroscience and November 4th, 2026 at Lyell Immunopharma, and RA Capital last filed on November 2nd, 2026 at Bambusa Therapeutics, so repeat open-market purchases above those fixed prices, or disposals below them, would settle whether these were financings or convictions.

Methodology and sources

Screen. CL-01 v1: At least 2 distinct insiders with open-market purchases (code P) within 30 days. Aggregate value at least $250,000.

Data pull. Prices and filings as of November 9th, 2026, covering October 10th, 2026 to November 9th, 2026.

Benchmark. IWM versus the S&P 500, priced on exchange closes over the same dates. Period return is the close on the end date divided by the close on the start date, minus one.

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