Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Monday, Novavax, Inc. (NASDAQ:NVAX)'s Director, James F. Young, made a $203,000 buy of NVAX, purchasing 100,000 shares at a cost of $2.03 a piece. So far Young is in the green, up about 4.4% on their purchase based on today's trading high of $2.12. Novavax, Inc. is trading up about 1% on the day Thursday. This buy marks the first one filed by Young in the past year.
And also on Monday, EVP, Company Group Chairman Laizer Kornwasser bought $141,217 worth of Valeant Pharmaceuticals International Inc (NYSE:VRX), buying 2,000 shares at a cost of $70.61 each. Valeant Pharmaceuticals International Inc is trading up about 0.1% on the day Thursday. Investors can buy VRX even cheaper than Kornwasser did, with the stock changing hands as low as $69.89 at last check today -- that's 1.0% below Kornwasser's purchase price.
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