Market News Video
Thursday 1/23 Insider Buying Report: PSXP, HARP
Thursday, January 23, 10:46 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.

At Phillips 66 Partners, a filing with the SEC revealed that on Wednesday, Director Mark Haney purchased 1,640 shares of PSXP, for a cost of $62.17 each, for a total investment of $101,967. Bargain hunters are able to snag PSXP at a price even lower than Haney did, with the stock trading as low as $60.50 in trading on Thursday -- that's 2.7% under Haney's purchase price. Phillips 66 Partners is trading up about 0.1% on the day Thursday. This purchase marks the first one filed by Haney in the past twelve months.

And at Harpoon Therapeutics, there was insider buying on Tuesday, by Chief Financial Officer Georgia Erbez who bought 6,700 shares at a cost of $14.09 each, for a trade totaling $94,418. This purchase marks the first one filed by Erbez in the past year. Harpoon Therapeutics is trading up about 2.8% on the day Thursday.

For MarketNewsVideo.com, I'm Sayoko Murase.

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