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 cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Thursday, Kaleido Biosciences' Director, Kyriazi Theo Melas, made a $249,998 buy of KLDO, purchasing 33,333 shares at a cost of $7.50 each. Investors can buy KLDO at a price even lower than Melas did, with shares trading as low as $7.16 in trading on Monday which is 4.5% below Melas's purchase price. Kaleido Biosciences is trading up about 4% on the day Monday.
And at Thermon Group Holdings, there was insider buying on Wednesday, by Director Michael W. Press who purchased 13,300 shares for a cost of $14.97 each, for a trade totaling $199,101. This buy marks the first one filed by Press in the past twelve months. Thermon Group Holdings is trading off about 0.4% on the day Monday. So far Press is in the green, up about 17.2% on their buy based on today's trading high of $17.54.
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