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.
On Thursday, Allogene Therapeutics', Arie Belldegrun, made a $6.88M purchase of ALLO, buying 146,382 shares at a cost of $47.00 a piece. Bargain hunters are able to buy ALLO at a price even lower than Belldegrun did, with shares changing hands as low as $43.38 at last check today -- that's 7.7% below Belldegrun's purchase price. Allogene Therapeutics is trading up about 2.3% on the day Friday. This buy marks the first one filed by Belldegrun in the past year.
And at Boston Omaha, there was insider buying on Wednesday, by Director Bradford B. Briner who bought 9,000 shares at a cost of $16.07 each, for a trade totaling $144,630. Boston Omaha is trading trading flat on the day Friday.
For MarketNewsVideo.com, I'm Sayoko Murase.
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