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.
At Akero Therapeutics, a filing with the SEC revealed that on Friday, G. Walmsley Graham purchased 100,000 shares of AKRO, at a cost of $16.95 each, for a total investment of $1.69M. Graham was up about 10.6% on the purchase at the high point of today's trading session, with AKRO trading as high as $18.75 at last check today. Akero Therapeutics Inc is trading up about 3.3% on the day Tuesday. Before this latest buy, Graham purchased AKRO on 3 other occasions during the past year, for a total investment of $18.85M at an average of $31.42 per share.
And at Cricut, there was insider buying on Thursday, by Director Jason Makler who purchased 19,999 shares for a cost of $6.94 each, for a total investment of $138,849. This purchase marks the first one filed by Makler in the past year. Cricut Inc is trading off about 1.1% on the day Tuesday. So far Makler is in the green, up about 7.9% on their purchase based on today's trading high of $7.49.
For MarketNewsVideo.com, I'm Sayoko Murase.