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.
At Landec, a filing with the SEC revealed that on Tuesday, Nelson Obus bought 20,000 shares of LNDC, for a cost of $10.76 each, for a total investment of $215,248. Obus was up about 4.1% on the buy at the high point of today's trading session, with LNDC trading as high as $11.20 at last check today. Landec is trading up about 2.6% on the day Thursday. Before this latest buy, Obus made one other purchase in the past twelve months, buying $103,023 shares for a cost of $10.30 a piece.
And at Generation Bio, there was insider buying on Monday, by Donald William Nicholson who bought 4,081 shares at a cost of $24.50 each, for a total investment of $99,984. Generation Bio is trading up about 4.3% on the day Thursday. Nicholson was up about 26.1% on the purchase at the high point of today's trading session, with GBIO trading as high as $30.90 at last check today.
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