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.
At Viridian Therapeutics, a filing with the SEC revealed that on Friday, Chief Operating Officer Thomas W. Beetham bought 5,000 shares of VRDN, for a cost of $23.41 each, for a total investment of $117,050. Viridian Therapeutics is trading up about 2.8% on the day Tuesday.
And at Engene Holdings, there was insider buying on Friday, by Chief Executive Officer Ronald Harold Wilfred Cooper who purchased 10,000 shares for a cost of $5.70 each, for a total investment of $57,000. This purchase marks the first one filed by Cooper in the past twelve months. Engene Holdings is trading off about 3.6% on the day Tuesday. Cooper was up about 22.8% on the buy at the high point of today's trading session, with ENGN trading as high as $7.00 in trading on Tuesday.
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