Wednesday 2/16 Insider Buying Report: KNTE, AMG Wednesday, February 16, 11:32 AM ET
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.
At Kinnate Biopharma, a filing with the SEC revealed that on Tuesday, Director Carl L. Gordon purchased 195,700 shares of KNTE, at a cost of $10.17 each, for a total investment of $1.99M. So far Gordon is in the green, up about 9.0% on their purchase based on today's trading high of $11.08. Kinnate Biopharma is trading up about 8.6% on the day Wednesday.
And also on Tuesday, Director Reuben Jeffery III purchased $503,860 worth of Affiliated Managers Group, purchasing 3,500 shares at a cost of $143.96 each. Before this latest buy, Jeffery III bought AMG at 2 other times during the past twelve months, for a total investment of $909,878 at an average of $174.98 per share. Affiliated Managers Group is trading up about 0.6% on the day Wednesday. So far Jeffery III is in the green, up about 1.3% on their purchase based on today's trading high of $145.89.
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