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 Tuesday, Synthorx's Acting Chief Financial Officer, Tighe Reardon, made a $6.00M buy of THOR, purchasing 545,455 shares at a cost of $11.00 each. So far Reardon is in the green, up about 36.4% on their buy based on today's trading high of $15.00. Synthorx is trading off about 7.8% on the day Friday.
And also on Tuesday, Director Randall J. Weisenburger bought $1.82M worth of Valero Energy, buying 25,000 shares at a cost of $72.73 each. This buy marks the first one filed by Weisenburger in the past twelve months. Valero Energy is trading up about 1.9% on the day Friday. Weisenburger was up about 3.6% on the buy at the high point of today's trading session, with VLO trading as high as $75.34 at last check today.
For MarketNewsVideo.com, I'm Sayoko Murase.