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, Athira Pharma's Andrew Gengos, made a $191,572 purchase of ATHA, buying 65,012 shares at a cost of $2.95 a piece. Gengos was up about 19.2% on the purchase at the high point of today's trading session, with ATHA trading as high as $3.51 in trading on Wednesday. Athira Pharma is trading up about 9.1% on the day Wednesday. This purchase marks the first one filed by Gengos in the past year.
And at Alta Equipment Group, there was insider buying on Friday, by See Remarks Ryan Greenawalt who bought 12,000 shares at a cost of $14.23 each, for a trade totaling $170,795. Alta Equipment Group is trading up about 1.6% on the day Wednesday. So far Greenawalt is in the green, up about 11.2% on their purchase based on today's trading high of $15.83.
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