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 Zenas Biopharma, a filing with the SEC revealed that on Tuesday, Director Hongbo Lu purchased 321,983 shares of ZBIO, at a cost of $18.63 each, for a total investment of $6.00M. So far Lu is in the green, up about 59.5% on their buy based on today's trading high of $29.73. Zenas Biopharma is trading up about 1.1% on the day Friday. This buy marks the first one filed by Lu in the past year.
And at aTyr Pharma, there was insider buying on Thursday, by Paul Schimmel who bought 1,000,000 shares for a cost of $0.91 each, for a trade totaling $911,801. This purchase marks the first one filed by Schimmel in the past year. aTyr Pharma is trading up about 15.4% on the day Friday. So far Schimmel is in the green, up about 22.8% on their purchase based on today's trading high of $1.12.
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