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 Atea Pharmaceuticals, a filing with the SEC revealed that on Thursday, Franklin M. Berger bought 25,000 shares of AVIR, at a cost of $3.26 each, for a total investment of $81,498. Berger was up about 4.0% on the purchase at the high point of today's trading session, with AVIR trading as high as $3.39 at last check today. Atea Pharmaceuticals is trading trading flat on the day Tuesday.
And at Mackenzie Realty Capital, there was insider buying on Friday, by CEO/President Robert E. Dixon who bought 25,000 shares for a cost of $2.67 each, for a total investment of $66,750. Before this latest buy, Dixon made one other buy in the past year, purchasing $66,750 shares for a cost of $2.67 a piece. Mackenzie Realty Capital is trading up about 4.6% on the day Tuesday. Investors are able to snag MKZR even cheaper than Dixon did, with the stock trading as low as $2.49 at last check today -- that's 6.7% under Dixon's purchase price.
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