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 Singlepoint, a filing with the SEC revealed that on Tuesday, Chief Executive Officer Wil Ralston purchased 100,000 shares of SING, for a cost of $5.00 each, for a total investment of $500,000. Bargain hunters have the opportunity to bag SING even cheaper than Ralston did, with shares trading as low as $2.12 at last check today which is 57.6% under Ralston's purchase price. Singlepoint is trading up about 3.6% on the day Friday. This purchase marks the first one filed by Ralston in the past year.
And also on Tuesday, Timothy J. Barberich purchased $142,456 worth of TScan Therapeutics, purchasing 29,147 shares at a cost of $4.89 a piece. Before this latest buy, Barberich made one other purchase in the past year, buying $99,564 shares for a cost of $2.63 each. TScan Therapeutics is trading up about 13.2% on the day Friday. Barberich was up about 16.3% on the purchase at the high point of today's trading session, with TCRX trading as high as $5.69 in trading on Friday.
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