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, Prometheus Biosciences' Chief Operating Officer, Mark Stenhouse, made a $266,000 purchase of RXDX, buying 14,000 shares at a cost of $19.00 each. Stenhouse was up about 23.5% on the purchase at the high point of today's trading session, with RXDX trading as high as $23.46 in trading on Wednesday. Prometheus Biosciences is trading off about 3.1% on the day Wednesday.
And at Forian, there was insider buying on Friday, by Stanley S. Trotman Jr. who bought 20,543 shares for a cost of $12.07 each, for a trade totaling $247,876. Forian is trading up about 0.1% on the day Wednesday.
For MarketNewsVideo.com, I'm Sayoko Murase.