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 Akero Therapeutics (NASDAQ:AKRO), a filing with the SEC revealed that on Monday, Director Kevin Bitterman purchased 270,000 shares of AKRO, for a cost of $16.00 each, for a total investment of $4.32M. Bitterman was up about 15.9% on the buy at the high point of today's trading session, with AKRO trading as high as $18.55 at last check today. Akero Therapeutics is trading down about 0.4% on the day Wednesday.
And at vTv Therapeutics (NASDAQ:VTVT), there was insider buying on Tuesday, by Ronald O. Perelman who purchased 1,212,121 shares at a cost of $1.65 each, for a trade totaling $2M. Before this latest buy, Perelman bought VTVT on 11 other occasions during the past twelve months, for a total cost of $22.5M at an average of $1.66 per share. vTv Therapeutics is trading up about 2.6% on the day Wednesday. Bargain hunters have the opportunity to bag VTVT at a price even lower than Perelman did, with shares trading as low as $1.38 at last check today — that's 16.4% under Perelman's purchase price.
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