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.
At Biohaven Pharmaceutical Holding, a filing with the SEC revealed that on Friday, John W. Childs purchased 6,678 shares of BHVN, at a cost of $59.00 each, for a total investment of $393,984. So far Childs is in the green, up about 7.7% on their buy based on today's trading high of $63.54. Biohaven Pharmaceutical Holding is trading up about 0.2% on the day Wednesday. Before this latest buy, Childs made one other buy in the past twelve months, purchasing $1.54M shares for a cost of $61.54 each.
And on Tuesday, Director David Nierenberg purchased $286,534 worth of Flotek Industries, purchasing 115,318 shares at a cost of $2.48 a piece. Before this latest buy, Nierenberg bought FTK at 3 other times during the past twelve months, for a total cost of $1.94M at an average of $2.10 per share. Flotek Industries is trading up about 8.3% on the day Wednesday. So far Nierenberg is in the green, up about 12.3% on their buy based on today's trading high of $2.79.
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.