As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
On Thursday, FibroGen's Chief Executive Officer, Enrique A. Conterno, made a $988,882 buy of FGEN, purchasing 27,800 shares at a cost of $35.57 a piece. Conterno was up about 6.2% on the purchase at the high point of today's trading session, with FGEN trading as high as $37.78 in trading on Friday. FibroGen is trading up about 7.7% on the day Friday.
And also on Thursday, Director Franklin M. Berger bought $550,000 worth of Kezar Life Sciences, buying 100,000 shares at a cost of $5.50 a piece. Before this latest buy, Berger made one other purchase in the past twelve months, buying $314,200 shares at a cost of $2.60 a piece. Kezar Life Sciences is trading up about 6.1% on the day Friday. Bargain hunters have the opportunity to grab KZR at a price even lower than Berger did, with shares changing hands as low as $5.02 in trading on Friday which is 8.7% under Berger's purchase price.
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