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 dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Thursday, RAPT Therapeutics', William JL Rieflin, made a $162,200 purchase of RAPT, buying 10,000 shares at a cost of $16.22 each. Rieflin was up about 15.6% on the purchase at the high point of today's trading session, with RAPT trading as high as $18.75 in trading on Monday. RAPT Therapeutics is trading up about 6.1% on the day Monday. This buy marks the first one filed by Rieflin in the past year.
And also on Thursday, Director Cam L. Garner purchased $161,042 worth of Zogenix, purchasing 8,000 shares at a cost of $20.13 a piece. Before this latest buy, Garner made one other buy in the past twelve months, purchasing $174,647 shares for a cost of $21.83 a piece. Zogenix is trading up about 4.8% on the day Monday. So far Garner is in the green, up about 3.9% on their purchase based on today's trading high of $20.91.
For MarketNewsVideo.com, I'm Sayoko Murase.