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.
At Harmony Biosciences Holdings, a filing with the SEC revealed that on Monday, Director Jack Nielsen bought 37,957 shares of HRMY, at a cost of $27.58 each, for a total investment of $1.05M. So far Nielsen is in the green, up about 23.3% on their purchase based on today's trading high of $34.00. Harmony Biosciences Holdings is trading off about 0.4% on the day Tuesday.
And on Friday, Director John J. Lacarte bought $428,874 worth of CB Financial Services, buying 23,500 shares at a cost of $18.25 each. Before this latest buy, Lacarte bought CBFV on 7 other occasions during the past twelve months, for a total investment of $107,532 at an average of $24.37 per share. CB Financial Services is trading up about 2.2% on the day Tuesday. So far Lacarte is in the green, up about 3.3% on their buy based on today's trading high of $18.85.
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