Monday 1/13 Insider Buying Report: EDSA, EIGR Monday, January 13, 10:36 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.
On Wednesday, Edesa Biotech (EDSA)'s , Velden Peter Van Der, made a $450,000 buy of EDSA, purchasing 140,625 shares at a cost of $3.20 each. Van Der was up about 20.9% on the buy at the high point of today's trading session, with EDSA trading as high as $3.87 in trading on Monday. Edesa Biotech is trading up about 3.6% on the day Monday. This buy marks the first one filed by Van Der in the past year.
And at Eiger BioPharmaceuticals (EIGR), there was insider buying on Friday, by Director Thomas John Dietz who bought 4,000 shares at a cost of $13.94 each, for a total investment of $55,760. Before this latest buy, Dietz purchased EIGR on 2 other occasions during the past twelve months, for a total cost of $110,745 at an average of $11.07 per share. Eiger BioPharmaceuticals is trading down about 0.9% on the day Monday.
For MarketNewsVideo.com, I'm Sayoko Murase.
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