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 Relay Therapeutics, a filing with the SEC revealed that on Monday, Director Douglas S. Ingram purchased 25,000 shares of RLAY, for a cost of $20.00 each, for a total investment of $500,000. So far Ingram is in the green, up about 104.6% on their buy based on today's trading high of $40.92. Relay Therapeutics Inc is trading down about 4.5% on the day Wednesday.
And at Ennis, there was insider buying on Tuesday, by Director Barbara T. Clemens who bought 1,600 shares for a cost of $16.82 each, for a total investment of $26,912. Ennis is trading up about 2.1% on the day Wednesday. So far Clemens is in the green, up about 5.1% on their buy based on today's trading high of $17.68.
For MarketNewsVideo.com, I'm Sayoko Murase.