Thursday 6/27 Insider Buying Report: ELOX, ADC Thursday, June 27, 10:58 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 dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Monday, Eloxx Pharmaceuticals (ELOX)'s Director, Ran Nussbaum, made a $1.8M purchase of ELOX, buying 200,000 shares at a cost of $9.00 a piece. So far Nussbaum is in the green, up about 5.6% on their buy based on today's trading high of $9.51. Eloxx Pharmaceuticals is trading up about 4.5% on the day Thursday.
And at Agree Realty Corp. (ADC), there was insider buying on Wednesday, by Director John Rakolta Jr. who bought 10,000 shares at a cost of $64.20 each, for a trade totaling $642,000. Before this latest buy, Rakolta Jr. purchased ADC on 4 other occasions during the past twelve months, for a total investment of $1.2M at an average of $58.60 per share. Agree Realty Corp. is trading up about 1.1% on the day Thursday.
For MarketNewsVideo.com, I'm Sayoko Murase.
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