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 Wednesday, Edesa Biotech (NASDAQ:EDSA)'s , Velden Peter Van Der, made a $450,000 buy of EDSA, purchasing 140,625 shares at a cost of $3.20 each. Van Der was up about 20.9% on the buy at the high point of today's trading session, with EDSA trading as high as $3.87 in trading on Monday. Edesa Biotech is trading up about 3.6% on the day Monday. This buy marks the first one filed by Van Der in the past year.
And at Eiger BioPharmaceuticals (NASDAQ:EIGR), there was insider buying on Friday, by Director Thomas John Dietz who bought 4,000 shares at a cost of $13.94 each, for a total investment of $55,760. Before this latest buy, Dietz purchased EIGR on 2 other occasions during the past twelve months, for a total cost of $110,745 at an average of $11.07 per share. Eiger BioPharmaceuticals is trading down about 0.9% on the day Monday.
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