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 dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Friday, Eidos Therapeutics' Director, Rajeev M. Shah, made a $18.00M purchase of EIDX, buying 1,058,824 shares at a cost of $17.00 a piece. So far Shah is in the green, up about 29.4% on their purchase based on today's trading high of $22.00. Eidos Therapeutics is trading down about 7.1% on the day Monday.
And at Atlantic Power, there was insider buying on Thursday, by Director Irving Russell Gerstein who bought 123,700 shares for a cost of $2.18 each, for a total investment of $269,302. Atlantic Power is trading down about 2.2% on the day Monday. So far Gerstein is in the green, up about 5.6% on their purchase based on today's trading high of $2.30.
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