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, Erasca's, Bihua Chen, made a $2M buy of ERAS, purchasing 307,692 shares at a cost of $6.50 each. Investors are able to grab ERAS even cheaper than Chen did, with shares trading as low as $4.06 in trading on Wednesday which is 37.5% below Chen's purchase price. Erasca is trading off about 3.2% on the day Wednesday. This buy marks the first one filed by Chen in the past twelve months.
And on Friday, CEO Joseph W. Dziedzic bought $247,790 worth of Integer Holdings, buying 4,000 shares at a cost of $61.95 a piece. This purchase marks the first one filed by Dziedzic in the past year. Integer Holdings is trading up about 0.2% on the day Wednesday. So far Dziedzic is in the green, up about 10.0% on their buy based on today's trading high of $68.14.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
