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 one noteworthy recent insider buy.
On Tuesday, Director David M. Mott purchased $992,672 worth of Ardelyx, purchasing 199,000 shares at a cost of $4.99 each. Before this latest buy, Mott purchased ARDX at 2 other times during the past twelve months, for a total investment of $1.99M at an average of $4.64 per share. Ardelyx is trading up about 4.7% on the day Thursday. So far Mott is in the green, up about 12.5% on their purchase based on today's trading high of $5.61.
VIDEO: Thursday 1/23 Insider Buying Report: ARDX
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
