Thursday 7/9 Insider Buying Report: LRMR, EVMN
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 Larimar Therapeutics, a filing with the SEC revealed that on Monday, Thomas Edward Hamilton bought 50,000 shares of LRMR, for a cost of $3.34 each, for a total investment of $166,890. Hamilton was up about 22.5% on the purchase at the high point of today's trading session, with LRMR trading as high as $4.09 at last check today. Larimar Therapeutics is trading up about 12.6% on the day Thursday. Before this latest buy, Hamilton made one other buy in the past twelve months, purchasing $500,000 shares at a cost of $5.00 each.
And at Evommune, there was insider buying on Tuesday, by Arthur S. Kirsch who bought 10,000 shares at a cost of $13.30 each, for a total investment of $133,000. This buy marks the first one filed by Kirsch in the past year. Evommune is trading up about 4% on the day Thursday. So far Kirsch is in the green, up about 6.1% on their buy based on today's trading high of $14.11.
VIDEO: Thursday 7/9 Insider Buying Report: LRMR, EVMN