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 dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At Quidel, a filing with the SEC revealed that on Monday, CEO Douglas C. Bryant bought 5,000 shares of QDEL, at a cost of $174.99 each, for a total investment of $874,965. Bargain hunters can bag QDEL even cheaper than Bryant did, with shares changing hands as low as $158.72 in trading on Wednesday -- that's 9.3% below Bryant's purchase price. Quidel is trading up about 7.5% on the day Wednesday. Before this latest buy, Bryant bought QDEL at 2 other times during the past twelve months, for a total cost of $1.97M at an average of $197.23 per share.
And at Corcept Therapeutics, there was insider buying on Tuesday, by Director G. Leonard Baker Jr. who purchased 46,251 shares for a cost of $12.49 each, for a trade totaling $577,738. This buy marks the first one filed by Baker Jr. in the past twelve months. Corcept Therapeutics is trading up about 48.7% on the day Wednesday. So far Baker Jr. is in the green, up about 58.4% on their buy based on today's trading high of $19.79.
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