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 Relmada Therapeutics, a filing with the SEC revealed that on Wednesday, Chief Financial Officer Maged Shenouda purchased 500,000 shares of RLMD, for a cost of $2.20 each, for a total investment of $1.1M. Shenouda was up about 30.0% on the buy at the high point of today's trading session, with RLMD trading as high as $2.86 in trading on Thursday. Relmada Therapeutics is trading up about 4.8% on the day Thursday. Before this latest buy, Shenouda made one other buy in the past year, purchasing $97,208 shares for a cost of $0.49 a piece.
And at Cheniere Energy, there was insider buying on Tuesday, by Director W. Benjamin Moreland who purchased 5,000 shares at a cost of $208.22 each, for a total investment of $1.04M. This buy marks the first one filed by Moreland in the past year. Cheniere Energy is trading up about 1.7% on the day Thursday.
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