A company's own top management tend to have the best inside view into the business, so when company officers make major buys, investors are wise to take notice. 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 — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by the ''top brass'' over the trailing six month period, one of which was a total of $103.2K by Saundra L. Pelletier, Chief Executive Officer at Evofem Biosciences Inc (EVFM).
Pelletier bets big on EVFM:
Purchased
Insider
Title
Shares
Price/Share
Value
03/09/2021
Saundra L. Pelletier
Chief Executive Officer
45,249
$2.28
$103,167.72
Pelletier's average cost works out to $2.28/share. In trading on Thursday, bargain hunters could buy shares of Evofem Biosciences Inc (EVFM) and achieve a cost basis lower than Pelletier, with shares changing hands as low as $1.75 per share. Shares of Evofem Biosciences Inc were changing hands at $1.79 at last check, trading off about 23% on Thursday. The chart below shows the one year performance of EVFM shares, versus its 200 day moving average:
Looking at the chart above, EVFM's low point in its 52 week range is $1.75 per share, with $6.87 as the 52 week high point — that compares with a last trade of $1.79.
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