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 Five Below, a filing with the SEC revealed that on Friday, CEO Joel D. Anderson bought 3,100 shares of FIVE, for a cost of $161.50 each, for a total investment of $500,650. Five Below is trading up about 1.3% on the day Wednesday. This purchase marks the first one filed by Anderson in the past twelve months.
And at Mirum Pharmaceuticals, there was insider buying on Monday, by Chief Financial Officer Eric Bjerkholt who purchased 10,000 shares at a cost of $29.65 each, for a trade totaling $296,492. Mirum Pharmaceuticals is trading up about 1.6% on the day Wednesday. Bjerkholt was up about 7.9% on the purchase at the high point of today's trading session, with MIRM trading as high as $32.00 in trading on Wednesday.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
