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.
At C4 Therapeutics, a filing with the SEC revealed that on Tuesday, CEO Andrew Hirsch bought 10,000 shares of CCCC, for a cost of $8.40 each, for a total investment of $84,000. Hirsch was up about 14.6% on the purchase at the high point of today's trading session, with CCCC trading as high as $9.63 at last check today. C4 Therapeutics is trading up about 7.7% on the day Wednesday. This buy marks the first one filed by Hirsch in the past twelve months.
And at Alzamend Neuro, there was insider buying on Monday, by Milton C. Ault III who purchased 50,000 shares for a cost of $1.13 each, for a total investment of $56,325. Before this latest buy, Ault III purchased ALZN at 21 other times during the past twelve months, for a total cost of $11.86M at an average of $4.77 per share. Alzamend Neuro is trading up about 16.7% on the day Wednesday.
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