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 Constellation Pharmaceuticals (NASDAQ:CNST), a filing with the SEC revealed that on Thursday, Director Anthony B. Evnin bought 2,823,529 shares of CNST, for a cost of $8.50 each, for a total investment of $24M. Constellation Pharmaceuticals is trading off about 2.4% on the day Monday.
And also on Thursday, Chief Investment Officer Andrew T. Feldstein purchased $1.04M worth of Assured Guaranty (NYSE:AGO), purchasing 24,000 shares at a cost of $43.37 each. This buy marks the first one filed by Feldstein in the past twelve months. Assured Guaranty is trading up about 1% on the day Monday. So far Feldstein is in the green, up about 2.3% on their buy based on today's trading high of $44.37.
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