Thursday 1/7 Insider Buying Report: DVN, CERU Thursday, January 7, 10:33 AM ET
As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
At Devon Energy (DVN), a filing with the SEC revealed that on Wednesday, Director Barbara M. Baumann purchased 8,200 shares of DVN, at a cost of $30.44 each, for a total investment of $249,629. Investors can bag DVN at a price even lower than Baumann did, with the stock changing hands as low as $28.91 at last check today which is 5.0% under Baumann's purchase price. Devon Energy is trading off about 2.7% on the day Thursday. Before this latest buy, Baumann made one other buy in the past year, purchasing $254,606 shares for a cost of $56.58 a piece.
And at Cerulean Pharma (CERU), there was insider buying on Tuesday, by Director David R. Walt who bought 8,801 shares for a cost of $3.03 each, for a trade totaling $26,691. Before this latest buy, Walt bought CERU on 3 other occasions during the past twelve months, for a total investment of $95,145 at an average of $3.46 per share. Cerulean Pharma is trading off about 4.4% on the day Thursday. Bargain hunters can buy CERU even cheaper than Walt did, with shares trading as low as $2.83 in trading on Thursday -- that's 6.7% under Walt's purchase price.
For MarketNewsVideo.com, I'm Sayoko Murase.
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