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 one noteworthy recent insider buy.
On Friday, Director Patricia L. Allen bought $499,746 worth of Zenas Biopharma, buying 19,860 shares at a cost of $25.16 a piece. Zenas Biopharma is trading down about 0.6% on the day Wednesday. Allen was up about 10.1% on the purchase at the high point of today's trading session, with ZBIO trading as high as $27.70 in trading on Wednesday.
VIDEO: Wednesday 2/18 Insider Buying Report: ZBIO
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
