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 Molina Healthcare (NYSE:MOH), a filing with the SEC revealed that on Wednesday, Executive Vice President James Woys bought 25,000 shares of MOH, at a cost of $148.79 each, for a total investment of $3.72M. Molina Healthcare is trading up about 2.5% on the day Friday. This buy marks the first one filed by Woys in the past twelve months.
And on Tuesday, Director Srinivas Akkaraju bought $2.98M worth of Principia Biopharma (NASDAQ:PRNB), buying 175,000 shares at a cost of $17.00 a piece. This buy marks the first one filed by Akkaraju in the past twelve months. Principia Biopharma is trading off about 1.3% on the day Friday. So far Akkaraju is in the green, up about 70.3% on their buy based on today's trading high of $28.95.
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