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There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on November 22, Geron Corp.'s Director, Thomas Kiley, invested $100,269.00 into 64,275 shares of GERN, for a cost per share of $1.56. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money.
In trading on Monday, bargain hunters could buy shares of Geron Corp. (NASDAQ:GERN) and achieve a cost basis 1.3% cheaper than Kiley, with shares changing hands as low as $1.54 per share. Geron Corp. shares are currently trading up about 6% on the day. The chart below shows the one year performance of GERN shares, versus its 200 day moving average:
Looking at the chart above, GERN's low point in its 52 week range is $1.41 per share, with $6.34 as the 52 week high point — that compares with a last trade of $1.61. By comparison, below is a table showing the prices at which insider buying was recorded over the last six months:
Purchased
Insider
Title
Shares
Price/Share
Value
11/22/2011
Thomas Kiley
Director
64,275
$1.56
$100,269.00
GERN operates in the Biotechnology sector, among companies like Incyte Corporation (NASDAQ:INCY) which is up about 4.2% today, and Myriad Genetics, Inc. (NASDAQ:MYGN) trading higher by about 4.3%. Below is a three month price history chart comparing the stock performance of GERN, versus INCY and MYGN.
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