Bullish Two Hundred Day Moving Average Cross - PCYC Monday, April 25, 2:23 PM ET, by Market News Video Staff In trading on Monday, shares of Pharmacyclics, Inc. (PCYC) crossed above their 200 day moving ...
TRGT Crosses Below Key Moving Average Level Monday, May 2, 11:59 AM ET, by Market News Video Staff In trading on Monday, shares of Targacept Inc (TRGT) crossed below their 200 day moving ...
Bullish Two Hundred Day Moving Average Cross - AMRI Friday, June 3, 2:01 PM ET, by Market News Video Staff In trading on Friday, shares of Albany Molecular Research, Inc. (AMRI) crossed above their 200 ...
Bearish Two Hundred Day Moving Average Cross - RIGL Friday, June 10, 4:16 PM ET, by Market News Video Staff In trading on Friday, shares of Rigel Pharmaceuticals Inc (RIGL) crossed below their 200 day ...
HALO Crosses Above Key Moving Average Level Friday, July 1, 2:11 PM ET, by Market News Video Staff In trading on Friday, shares of Halozyme Therapeutics Inc (HALO) crossed above their 200 day ...
Bargain Hunters Take Note: Insider Cluster-Buying At AMRI
By Market News Video Staff, Wednesday, December 7, 4:06 PM ET
A particularly strong insider buying signal is what we call a "cluster-buy" where three or more different insiders make open market purchases within a short period of one another. At Albany Molecular Research, Inc. (NASDAQ:AMRI), 3 different insiders purchased 23,900 shares at an average price of $2.36/share, for a total of $56,333, with the most recent purchase on December 7, 2011.
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. So when multiple insiders all decide to make purchases around the same time, it could be a strong indication that the stock is undervalued. Below is a table summarizing the insider buys that make up this "cluster":
Purchased
Insider
Title
Shares
Price/Share
Value
12/01/2011
Mark T. Frost
Chief Financial Officer
10,000
$2.26
$22,600.00
12/07/2011
Lori M. Henderson
VP, general counsel
5,900
$2.47
$14,573.00
12/07/2011
Gabriel Leung
Director
8,000
$2.40
$19,160.00
The chart below shows the one year performance of AMRI shares, versus its 200 day moving average. Note that AMRI's low point in its 52 week range is $2.08 per share, with $6.37 as the 52 week high point — that compares with a last trade of $2.33, with shares currently trading off about 6.8% on the day.
AMRI operates in the Biotechnology sector, among companies like Halozyme Therapeutics Inc (NASDAQ:HALO) which is off about 1.6% today, and Pharmacyclics, Inc. (NASDAQ:PCYC) trading lower by about 0.9%. Below is a three month price history chart comparing the stock performance of AMRI, versus HALO and PCYC.
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