A company's own top management tend to have the best inside view into the business, so when company officers make major buys, investors are wise to take notice. Presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by the ''top brass'' over the trailing six month period, one of which was a total of $120.2K by Tausif Butt, EVP, Chief Operating Officer at ChemoCentryx, Inc. (NASDAQ:CCXI).
Butt bets big on CCXI:
EVP, Chief Operating Officer
Butt's average cost works out to $11.06/share. In trading on Wednesday, bargain hunters could buy shares of ChemoCentryx, Inc. (NASDAQ:CCXI) and achieve a cost basis lower than Butt, with shares changing hands as low as $10.17 per share. Shares of ChemoCentryx, Inc. were changing hands at $10.35 at last check, trading down about 3.8% on Wednesday. The chart below shows the one year performance of CCXI shares, versus its 200 day moving average:
Looking at the chart above, CCXI's low point in its 52 week range is $9.55 per share, with $70.29 as the 52 week high point — that compares with a last trade of $10.35.
This Article's Word Cloud:BetsBrassButtBuysCCXIChemoCentryxChiefDaysDollarsInsiderInsidersJoinLookingOfferOfficerOperatingPlacePresumablyPricePurchasedSevenShareSharesSpecialStartTausifWednesdayaveragebuyschangingchartcompanycosthandsinsiderlastmakemaybemdashpointsharesharesstocktakethattheirtheytradingweekwith
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.