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.
At Molecular Templates (NASDAQ:MTEM), a filing with the SEC revealed that on Tuesday, Director Scott D. Morenstein bought 545,454 shares of MTEM, at a cost of $5.50 each, for a total investment of $3M. Molecular Templates is trading up about 2.3% on the day Friday. This purchase marks the first one filed by Morenstein in the past year.
And on Wednesday, Director Randall James Levitt purchased $187,500 worth of Capital Bancorp (NASDAQ:CBNK), purchasing 15,000 shares at a cost of $12.50 each. This purchase marks the first one filed by Levitt in the past year. Capital Bancorp is trading down about 0.2% on the day Friday. So far Levitt is in the green, up about 2.4% on their buy based on today's trading high of $12.80.
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