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Friday 12/9 Insider Buying Report: MDCO, ZYNE Friday, December 9, 10:35 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.
On Thursday, Medicines (MDCO)'s Director, Fredric N. Eshelman, made a $20.99M purchase of MDCO, buying 621,720 shares at a cost of $33.77 a piece. Eshelman was up about 6.3% on the buy at the high point of today's trading session, with MDCO trading as high as $35.88 in trading on Friday. Medicines is trading up about 7.6% on the day Friday. Before this latest buy, Eshelman made one other buy in the past year, purchasing $10.10M shares at a cost of $33.68 each.
And on Wednesday, Chief Financial Officer James E. Fickenscher purchased $98,570 worth of Zynerba Pharmaceuticals (ZYNE), purchasing 7,000 shares at a cost of $14.08 a piece. Zynerba Pharmaceuticals is trading up about 3.7% on the day Friday. So far Fickenscher is in the green, up about 16.7% on their buy based on today's trading high of $16.43.
For MarketNewsVideo.com, I'm Sayoko Murase. | |
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