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.
On Friday, Immunome's CEO, Clay B. Siegall, made a $962,181 purchase of IMNM, buying 100,000 shares at a cost of $9.62 each. So far Siegall is in the green, up about 32.5% on their purchase based on today's trading high of $12.75. Immunome is trading up about 9.3% on the day Wednesday. Before this latest buy, Siegall made one other purchase in the past twelve months, buying $1.39M shares at a cost of $13.88 a piece.
And at ProFrac Holding, there was insider buying on Tuesday, by Executive Chairman Matthew Wilks who purchased 79,960 shares for a cost of $7.79 each, for a total investment of $623,068. This purchase marks the first one filed by Wilks in the past twelve months. ProFrac Holding is trading up about 8.9% on the day Wednesday. So far Wilks is in the green, up about 18.6% on their buy based on today's trading high of $9.24.
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