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.
On Monday, DiaMedica Therapeutics' Chief Business Officer, David J. Wambeke, made a $750,000 purchase of DMAC, buying 468,750 shares at a cost of $1.60 each. Wambeke was up about 15.6% on the buy at the high point of today's trading session, with DMAC trading as high as $1.85 in trading on Wednesday. DiaMedica Therapeutics is trading up about 11.1% on the day Wednesday.
And on Friday, Chief Executive Officer Grigorios Siokas purchased $54,540 worth of Cosmos Health, purchasing 2,238 shares at a cost of $24.37 each. Before this latest buy, Siokas made one other purchase in the past twelve months, buying $3.00M shares at a cost of $11.50 each. Cosmos Health is trading up about 3.9% on the day Wednesday. Investors can snag COSM even cheaper than Siokas did, with the stock changing hands as low as $3.40 in trading on Wednesday -- that's 86.0% below Siokas's purchase price.
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