Thursday 1/22 Insider Buying Report: CMC, CABA
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, Commercial Metals's Director, Dennis V. Arriola, made a $149,380 buy of CMC, purchasing 2,000 shares at a cost of $74.69 a piece. Arriola was up about 5.7% on the purchase at the high point of today's trading session, with CMC trading as high as $78.92 at last check today. Commercial Metals is trading up about 1% on the day Thursday.
And on Wednesday, Shawn Tomasello bought $50,322 worth of Cabaletta Bio, buying 22,725 shares at a cost of $2.21 a piece. This purchase marks the first one filed by Tomasello in the past twelve months. Cabaletta Bio is trading up about 23.3% on the day Thursday. So far Tomasello is in the green, up about 39.5% on their buy based on today's trading high of $3.09.
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