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 Karuna Therapeutics (NASDAQ:KRTX), a filing with the SEC revealed that on Monday, Director James Healy purchased 156,250 shares of KRTX, at a cost of $96.00 each, for a total investment of $15M. Bargain hunters are able to grab KRTX even cheaper than Healy did, with the stock changing hands as low as $75.08 in trading on Tuesday which is 21.8% under Healy's purchase price. Karuna Therapeutics is trading off about 8.1% on the day Tuesday. Before this latest buy, Healy made one other buy in the past year, purchasing $11.2M shares at a cost of $16.00 each.
And on Thursday, Director Scott D. Morenstein bought $3.75M worth of Molecular Templates (NASDAQ:MTEM), buying 468,750 shares at a cost of $8.00 each. This buy marks the first one filed by Morenstein in the past twelve months. Molecular Templates is trading up about 3% on the day Tuesday. So far Morenstein is in the green, up about 38.6% on their buy based on today's trading high of $11.09.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.
X
Wait! Don't leave yet.
Want to receive our latest research absolutely free?
⤹
Click the button below for your complimentary copy of Your Early Retirement Portfolio: Dividends Up to 9.5%—Every Month—Forever.
You'll discover the details on 4 stocks and funds that pay you massive dividends as high as 9.5%.