Warner Bros Discovery Director Buys $3.55M Worth of WBD Shares, Heron Therapeutics Director Purchases $2.65M Worth of HRTX Shares

Two notable insider buys were made recently. Anton J. Levy, Director of Warner Bros Discovery, purchased 325,000 shares of WBD at $10.92 each, totaling $3.55M. Heron Therapeutics' Director Adam Morgan bought 1,766,546 shares at $1.50 each, totaling $2.65M. WBD is trading up 6.6% and HRTX is up 5.7% on the day. Investors can purchase HRTX at a lower price than Morgan did, with the stock trading as low as $1.37.

Two significant insider purchases have recently been made in the financial markets, signaling confidence in the future prospects of these companies. Anton J. Levy, a director of Warner Bros. Discovery (WBD), purchased 325,000 shares of the company's stock, totaling $3.55 million, at an average price of $10.92 per share [1]. Meanwhile, Adam Morgan, a director of Heron Therapeutics (HRTX), bought 1,766,546 shares at an average price of $1.50 per share, amounting to $2.65 million [2].

The insider buying activity comes amidst positive market movements for both companies. As of July 2, 2025, WBD is trading up 6.6% on the day, while HRTX is up 5.7%. This increase is notable given the recent volatility and the high-risk nature of investing in both companies. Investors can currently purchase HRTX shares at a lower price than Morgan did, with the stock trading as low as $1.37.

Warner Bros. Discovery reported its Q2 2025 earnings, which showed a significant revenue beat but a miss in earnings per share (EPS). The company posted revenue of $9.81 billion, exceeding the forecast of $9.73 billion. However, the EPS was $0.63, falling short of the expected $0.25, resulting in a substantial surprise of -352%. Despite this, CFRA raised its price target for WBD from $13 to $14 while maintaining a Hold rating, citing the company’s plan to restructure into two separate entities by 2026 as a positive move for shareholder value [1].

Heron Therapeutics, on the other hand, reported its Q2 2025 earnings with a net revenue of $37.2 million, an improvement from the previous year's loss. The company reaffirmed its 2025 net revenue guidance and raised its adjusted EBITDA guidance, driven by strategic sales force enhancements and product demand growth. Despite the positive earnings report, HRTX stock experienced a sharp decline following the announcement, falling 8.33% post-earnings [2].

These insider buys suggest that key stakeholders in both companies are optimistic about their future performance. However, investors should remain cautious and conduct thorough research before making investment decisions, considering the high-risk nature of the stocks involved.

References:
[1] https://www.investing.com/news/insider-trading-news/levy-anton-j-buys-warner-bros-discovery-shares-worth-35m-93CH-4187795
[2] https://www.ainvest.com/news/rubric-capital-director-morgan-significant-investments-heron-therapeutics-2508/