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 Aileron Therapeutics (NASDAQ:ALRN), a filing with the SEC revealed that on Wednesday, Director Reinhard J. Ambros purchased 266,667 shares of ALRN, for a cost of $15.00 each, for a total investment of $4.00M. Bargain hunters can bag ALRN even cheaper than Ambros did, with shares trading as low as $12.09 in trading on Thursday which is 19.4% below Ambros's purchase price. Aileron Therapeutics is trading up about 3.4% on the day Thursday.
And also on Wednesday, William J. Schneider purchased $397,696 worth of Nuveen Tax-Advantaged Total Return Strategy Fund (JTA), purchasing 30,700 shares at a cost of $12.95 a piece. This purchase marks the first one filed by Schneider in the past twelve months. Nuveen Tax-Advantaged Total Return Strategy Fund is trading down about 0.3% on the day Thursday.
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