A particularly strong insider buying signal is what we call a "cluster-buy" where three or more different insiders make open market purchases within a short period of one another. At Biodesix Inc (NASDAQ:BDSX), 5 different insiders purchased 308,953 shares at an average price of $1.37/share, for a total of $424,144, with the most recent purchase on November 5, 2024.
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. So when multiple insiders all decide to make purchases around the same time, it could be a strong indication that the stock is undervalued. Below is a table summarizing the insider buys that make up this "cluster":
Purchased
Insider
Title
Shares
Price/Share
Value
11/06/2024
Lawrence T. Kennedy Jr.
71,200
$1.36
$97,068.00
11/05/2024
Matthew Strobeck
40,000
$1.40
$55,916.00
11/05/2024
Jack W. Schuler
100,253
$1.36
$136,584.69
11/05/2024
John Patience
75,000
$1.38
$103,710.00
11/05/2024
Hany Massarany
22,500
$1.37
$30,865.50
The chart below shows the one year performance of BDSX shares, versus its 200 day moving average. Note that BDSX's low point in its 52 week range is $1.15 per share, with $2.21 as the 52 week high point — that compares with a last trade of $1.34, with shares currently trading off about 0.4% on the day.
This Article's Word Cloud:BDSXBargainsBelowBiodesixChannelCheaperDividendHanyInsiderInsidersJackJohnKennedyLawrenceMassaranyMatthewNewsletterNoteNovemberOfferPatiencePremiumPresumablyPricePurchasedReceiveSchulerShareSharesSpecialStartStrobeckaverageclusterdifferentinsiderinsidersmakemarketopenpointpurchasessharesharesstockstrongthattheirweekwith
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The Importance of Insider Buying
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