As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
On Friday, Audience Inc (NASDAQ:ADNC)'s VP of Engineering, Eitan Asher Medina, made a $552,691 purchase of ADNC, buying 68,008 shares at a cost of $8.13 each. Investors have the opportunity to grab ADNC even cheaper than Medina did, with the stock trading as low as $7.80 in trading on Wednesday -- that's 4.0% below Medina's purchase price. Audience Inc is trading off about 3.6% on the day Wednesday. Before this latest buy, Medina bought ADNC at 2 other times during the past year, for a total cost of $240,860 at an average of $7.38 per share.
And at Pacific Biosciences California Inc (NASDAQ:PACB), there was insider buying on Friday, by Chairman, CEO & President Michael Hunkapiller who bought 262,300 shares at a cost of $1.16 each, for a total investment of $303,610. Before this latest buy, Hunkapiller bought PACB at 2 other times during the past year, for a total cost of $895,900 at an average of $1.61 per share. Pacific Biosciences California Inc is trading down about 0.2% on the day Wednesday. So far Hunkapiller is in the green, up about 16.6% on their purchase based on today's trading high of $1.35.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.