Tuesday 5/24 Insider Buying Report: PZRX, BAX Tuesday, May 24, 10:41 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 PhaseRx (PZRX), a filing with the SEC revealed that on Monday, Director Richard J. Ulevitch bought 100,000 shares of PZRX, for a cost of $5.00 each, for a total investment of $500,000. Ulevitch was up about 1.2% on the buy at the high point of today's trading session, with PZRX trading as high as $5.06 in trading on Tuesday. PhaseRx is trading down about 2.3% on the day Tuesday. This purchase marks the first one filed by Ulevitch in the past twelve months.
And at Baxter International (BAX), there was insider buying on Monday, by CEO Jose E. Almeida who bought 11,691 shares for a cost of $42.75 each, for a total investment of $499,790. Baxter International is trading up about 1.4% on the day Tuesday. Almeida was up about 2.0% on the purchase at the high point of today's trading session, with BAX trading as high as $43.61 at last check today.
For MarketNewsVideo.com, I'm Sayoko Murase.
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