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 Tuesday, Princeton Bancorp's, Martin Tuchman, made a $719,620 purchase of BPRN, buying 22,000 shares at a cost of $32.71 a piece. Bargain hunters are able to grab BPRN at a price even lower than Tuchman did, with the stock trading as low as $31.13 in trading on Thursday which is 4.8% under Tuchman's purchase price. Princeton Bancorp is trading down about 0.7% on the day Thursday. Before this latest buy, Tuchman purchased BPRN at 10 other times during the past twelve months, for a total cost of $1.04M at an average of $30.26 per share.
And at Enanta Pharmaceuticals, there was insider buying on Wednesday, by CEO Jay R. Luly who bought 45,000 shares at a cost of $5.69 each, for a trade totaling $256,050. Enanta Pharmaceuticals is trading up about 34.4% on the day Thursday. Luly was up about 39.3% on the purchase at the high point of today's trading session, with ENTA trading as high as $7.93 at last check today.
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