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.
On Wednesday, Biohaven Pharmaceutical Holding's , John W. Childs, made a $999,932 purchase of BHVN, buying 13,157 shares at a cost of $76.00 each. Biohaven Pharmaceutical Holding is trading off about 2.6% on the day Thursday. Before this latest buy, Childs bought BHVN on 5 other occasions during the past year, for a total cost of $3.43M at an average of $68.57 per share.
And on Tuesday, Director Rona Alison Fairhead purchased $688,966 worth of Oracle, purchasing 10,242 shares at a cost of $67.27 each. Oracle is trading up about 0.4% on the day Thursday. Investors are able to snag ORCL at a price even lower than Fairhead did, with shares trading as low as $66.09 at last check today -- that's 1.8% below Fairhead's purchase price.
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