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 Annovis Bio, a filing with the SEC revealed that on Monday, Director Michael B. Hoffman bought 45,000 shares of ANVS, for a cost of $4.31 each, for a total investment of $193,794. Bargain hunters are able to grab ANVS even cheaper than Hoffman did, with the stock trading as low as $3.70 at last check today -- that's 14.1% under Hoffman's purchase price. Annovis Bio is trading up about 6.9% on the day Friday. Before this latest buy, Hoffman purchased ANVS at 4 other times during the past year, for a total cost of $2.26M at an average of $2.15 per share.
And also on Monday, David Maclennan bought $193,198 worth of Ecolab, buying 750 shares at a cost of $257.60 each. Before this latest buy, Maclennan purchased ECL at 3 other times during the past year, for a total investment of $398,786 at an average of $265.86 per share. Ecolab is trading up about 0.5% on the day Friday. Maclennan was up about 2.5% on the purchase at the high point of today's trading session, with ECL trading as high as $264.01 at last check today.
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