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 Monday, Tenaya Therapeutics (TNYA)'s, David V. Goeddel, made a $10M purchase of TNYA, buying 2,222,222 shares at a cost of $4.50 each. So far Goeddel is in the green, up about 35.5% on their buy based on today's trading high of $6.10. Tenaya Therapeutics is trading up about 7.9% on the day Thursday. Before this latest buy, Goeddel made one other purchase in the past twelve months, buying $17,596 shares for a cost of $2.60 a piece.
And on Wednesday, James Andrew Barker bought $131,590 worth of Banc Of California (BANC), buying 10,000 shares at a cost of $13.16 a piece. Before this latest buy, Barker bought BANC at 2 other times during the past year, for a total cost of $325,719 at an average of $13.03 per share. Banc Of California is trading up about 4.2% on the day Thursday. Barker was up about 7.0% on the buy at the high point of today's trading session, with BANC trading as high as $14.08 at last check today.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
