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 Monday, Black Diamond Therapeutics (NASDAQ:BDTX)'s Director, Bradley J. Phd Bolzon, made a $17M buy of BDTX, purchasing 894,736 shares at a cost of $19.00 each. So far Bolzon is in the green, up about 105.3% on their purchase based on today's trading high of $39.00. Black Diamond Therapeutics is trading up about 2.1% on the day Thursday.
And on Tuesday, Director Franklin M. Berger purchased $314,200 worth of Kezar Life Sciences (NASDAQ:KZR), purchasing 120,846 shares at a cost of $2.60 a piece. This buy marks the first one filed by Berger in the past twelve months. Kezar Life Sciences is trading up about 6.3% on the day Thursday. Berger was up about 33.5% on the purchase at the high point of today's trading session, with KZR trading as high as $3.47 in trading on Thursday.
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