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 Tuesday, Immunome's Director, Michael Rapp, made a $999,984 buy of IMNM, purchasing 83,332 shares at a cost of $12.00 a piece. Rapp was up about 19.9% on the buy at the high point of today's trading session, with IMNM trading as high as $14.39 at last check today. Immunome is trading off about 2.7% on the day Friday. This buy marks the first one filed by Rapp in the past twelve months.
And at Selecta Biosciences, there was insider buying on Tuesday, by Director Timothy C. Barabe who bought 50,000 shares for a cost of $1.68 each, for a trade totaling $83,985. Selecta Biosciences is trading up about 4.7% on the day Friday. Barabe was up about 36.3% on the purchase at the high point of today's trading session, with SELB trading as high as $2.29 in trading on Friday.
For MarketNewsVideo.com, I'm Sayoko Murase.