Tuesday 5/12 Insider Buying Report: WGS, MOBI
Tuesday, May 12, 10:43 AM ET
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 GeneDx Holdings, a filing with the SEC revealed that on Monday, Keith A. Meister purchased 1,205,147 shares of WGS, at a cost of $38.84 each, for a total investment of $46.81M. Meister was up about 8.7% on the buy at the high point of today's trading session, with WGS trading as high as $42.21 at last check today. GeneDx Holdings is trading up about 6.2% on the day Tuesday. Before this latest buy, Meister made one other buy in the past year, purchasing $13.46M shares for a cost of $79.40 each.
And also on Monday, Director Cynthia L. Lucchese purchased $1.88M worth of Mobia Med, purchasing 125,000 shares at a cost of $15.00 a piece. Mobia Med is trading up about 0.5% on the day Tuesday. Bargain hunters have the opportunity to buy MOBI at a price even lower than Lucchese did, with the stock changing hands as low as $11.88 at last check today which is 20.8% under Lucchese's purchase price.
For MarketNewsVideo.com, I'm Sayoko Murase.
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