Thursday 4/25 Insider Buying Report: TPTX, ABT Thursday, April 25, 10:39 AM ET
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 cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At Turning Point Therapeutics (TPTX), a filing with the SEC revealed that on Monday, Director Hongbo Lu purchased 60,000 shares of TPTX, for a cost of $18.00 each, for a total investment of $1.08M. Lu was up about 61.1% on the purchase at the high point of today's trading session, with TPTX trading as high as $29.00 in trading on Thursday. Turning Point Therapeutics is trading up about 2.3% on the day Thursday. This buy marks the first one filed by Lu in the past year.
And at Abbott Laboratories (ABT), there was insider buying on Monday, by Senior Vice President Randel William Woodgrift who bought 2,000 shares at a cost of $73.40 each, for a trade totaling $146,798. This buy marks the first one filed by Woodgrift in the past year. Abbott Laboratories is trading up about 0.4% on the day Thursday. So far Woodgrift is in the green, up about 5.5% on their purchase based on today's trading high of $77.41.
For MarketNewsVideo.com, I'm Sayoko Murase.
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