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, Nuvation Bio (NUVB)'s Director, Oleg Nodelman, made a $6.69M buy of NUVB, purchasing 5,313,100 shares at a cost of $1.26 a piece. Nodelman was up about 11.1% on the purchase at the high point of today's trading session, with NUVB trading as high as $1.40 in trading on Monday. Nuvation Bio is trading up about 5.3% on the day Monday. This purchase marks the first one filed by Nodelman in the past year.
And at Agree Realty Corp. (ADC), there was insider buying on Thursday, by John Rakolta Jr. who purchased 30,000 shares for a cost of $57.48 each, for a trade totaling $1.72M. Before this latest buy, Rakolta Jr. purchased ADC on 4 other occasions during the past year, for a total investment of $3.89M at an average of $65.87 per share. Agree Realty Corp. is trading down about 0.3% on the day Monday. Bargain hunters are able to bag ADC even cheaper than Rakolta Jr. did, with shares changing hands as low as $56.56 in trading on Monday -- that's 1.6% below Rakolta Jr.'s purchase price.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
