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 Candel Therapeutics, a filing with the SEC revealed that on Thursday, Director Christopher Martell bought 125,000 shares of CADL, for a cost of $8.00 each, for a total investment of $1M. Investors have the opportunity to grab CADL at a price even lower than Martell did, with shares trading as low as $7.60 in trading on Tuesday which is 5.0% below Martell's purchase price. Candel Therapeutics is trading up about 3.3% on the day Tuesday. This buy marks the first one filed by Martell in the past twelve months.
And at EQT, there was insider buying on Monday, by CEO Toby Z. Rice who bought 28,000 shares at a cost of $17.83 each, for a total investment of $499,240. This purchase marks the first one filed by Rice in the past year. EQT is trading up about 0.5% on the day Tuesday. Bargain hunters can buy EQT at a price even lower than Rice did, with shares changing hands as low as $17.33 in trading on Tuesday -- that's 2.8% under Rice's purchase price.
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