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 Gossamer Bio, a filing with the SEC revealed that on Friday, Director Faheem Hasnain purchased 10,000 shares of GOSS, at a cost of $16.80 each, for a total investment of $167,980. Investors are able to buy GOSS even cheaper than Hasnain did, with shares trading as low as $15.62 at last check today which is 7.0% below Hasnain's purchase price. Gossamer Bio is trading down about 1.8% on the day Wednesday.
And at Greenlane Holdings, there was insider buying on Friday, by Director Richard Taney who purchased 30,000 shares for a cost of $3.65 each, for a total investment of $109,350. Before this latest buy, Taney made one other purchase in the past year, buying $85,000 shares for a cost of $17.00 each. Greenlane Holdings is trading up about 0.9% on the day Wednesday. Investors can pick up GNLN at a price even lower than Taney did, with the stock changing hands as low as $3.15 in trading on Wednesday — that's 13.6% below Taney's purchase price.
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