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 Friday, Generation Bio's, Charles A. Rowland Jr., made a $276,241 purchase of GBIO, buying 50,628 shares at a cost of $5.46 each. Investors are able to buy GBIO at a price even lower than Rowland Jr. did, with the stock trading as low as $5.13 at last check today which is 6.0% below Rowland Jr.'s purchase price. Generation Bio is trading up about 1.9% on the day Wednesday. Before this latest buy, Rowland Jr. made one other buy in the past year, purchasing $127,404 shares at a cost of $5.22 each.
And at PEDEVCO, there was insider buying on Tuesday, by Chief Executive Officer Simon G. Kukes who purchased 202,619 shares for a cost of $1.30 each, for a trade totaling $263,995. Before this latest buy, Kukes bought PED on 7 other occasions during the past twelve months, for a total cost of $1.23M at an average of $1.19 per share. PEDEVCO is trading up about 1% on the day Wednesday. Bargain hunters can pick up PED even cheaper than Kukes did, with the stock trading as low as $1.03 at last check today -- that's 20.9% under Kukes's purchase price.
For MarketNewsVideo.com, I'm Sayoko Murase.