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✦ Spy Mode investigation

Evan Lockwood Rachlin's $11.5M purchase of IAM

Iambic Therapeutics, Inc. · Director · filed Oct 19, 2026. Opened Oct 27, 2026, last checked Oct 28, 2026. 7-day result in; next check Nov 18, 2026.

Reported value$11.5M718,750 shares at $16.00
For this personUnusual1 buy · 0 sales on file
Similar buys beat S&P46%9,298 cases · all buys 46%

Worth a closer look

  • Open-market purchase with their own money (Form 4 code P), not a grant or option exercise.
  • Raised their own holding by 38%.

Reasons for caution

  • Held indirectly (a trust, fund or family entity), so the economic owner isn't only the named insider.
  • Similar past buys beat the S&P 500 only 46% of the time (9,298 cases); the typical one trailed it by 1.3%.

What happened after this filing

7 days -11.8% -11.7% vs S&P
30 days Pending due Nov 18
90 days Pending due Jan 17

What we couldn't check

  • Why they traded. Filings don't say, and we don't guess.
  • Company news after the filing, and any private terms.
Summary

Evan Lockwood Rachlin (a director) bought $12M of IAM at about $16.00 on Oct 16, 2026, reported to the SEC on Oct 19, 2026. Buys like this beat the S&P 500 46% of the time since 2020, against 46% for all insider buys. We found 2 points that make it worth a closer look and 2 reasons for caution. History, not a prediction.

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Written by fixed rules from SEC filings and our measured history, not by an AI model. Public data only. History, not a prediction, and not investment advice.

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