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.
On Friday, Bellerophon Therapeutics (NASDAQ:BLPH)'s Director, Naseem Amin, made a $400,000 purchase of BLPH, buying 571,429 shares at a cost of $0.70 each. Bellerophon Therapeutics is trading up about 4.6% on the day Monday. This purchase marks the first one filed by Amin in the past year.
And also on Friday, CFO Robert D. Bondurant bought $6,802 worth of Martin Midstream Partners LP (NASDAQ:MMLP), buying 523 shares at a cost of $12.99 each. Before this latest buy, Bondurant purchased MMLP at 7 other times during the past year, for a total cost of $47,879 at an average of $13.29 per share. Martin Midstream Partners LP is trading off about 1.5% on the day Monday. So far Bondurant is in the green, up about 1.8% on their purchase based on today's trading high of $13.23.
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