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 Checkmate Pharmaceuticals, a filing with the SEC revealed that on Tuesday, Chief Scientific Officer Arthur M. Krieg bought 5,103 shares of CMPI, at a cost of $14.64 each, for a total investment of $74,708. Checkmate Pharmaceuticals is trading off about 0.9% on the day Thursday.
And at Wells Fargo Advantage Income Opportunities Fund, there was insider buying on Tuesday, by Christopher M. Lee who bought 8,750 shares at a cost of $8.04 each, for a total investment of $70,350. Before this latest buy, Lee made one other purchase in the past twelve months, buying $80,700 shares for a cost of $8.07 each. Wells Fargo Advantage Income Opportunities Fund is trading up about 1% on the day Thursday. Lee was up about 1.2% on the buy at the high point of today's trading session, with EAD trading as high as $8.14 in trading on Thursday.
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