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 Thursday, CG Oncology's, Brian Guan-chyun Liu, made a $24.81M buy of CGON, purchasing 371,085 shares at a cost of $66.87 a piece. So far Liu is in the green, up about 15.1% on their purchase based on today's trading high of $77.00. CG Oncology is trading up about 0.3% on the day Tuesday. Before this latest buy, Liu made one other buy in the past year, purchasing $50M shares for a cost of $33.00 a piece.
And at Nexstar Media Group, there was insider buying on Friday, by Chief Executive Officer Perry A. Sook who purchased 12,235 shares for a cost of $162.26 each, for a total investment of $1.99M. This buy marks the first one filed by Sook in the past twelve months. Nexstar Media Group is trading up about 3.8% on the day Tuesday. So far Sook is in the green, up about 9.4% on their purchase based on today's trading high of $177.54.
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