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Wednesday 9/30 Insider Buying Report: AGEN, JMP

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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 Agenus ( AGEN ), a filing with the SEC revealed that on Friday, CEO Garo H. Armen purchased 100,000 shares of AGEN, at a cost of $5.03 each, for a total investment of $503,000. Bargain hunters have the opportunity to snag AGEN at a price even lower than Armen did, with the stock changing hands as low as $4.62 in trading on Wednesday which is 8.2% below Armen's purchase price. Agenus is trading up about 4.7% on the day Wednesday. This buy marks the first one filed by Armen in the past year.

And also on Friday, CEO Joseph A. Jolson purchased $494,532 worth of JMP Group ( JMP ), purchasing 80,002 shares at a cost of $6.18 a piece. Before this latest buy, Jolson purchased JMP at 3 other times during the past year, for a total investment of $6.89M at an average of $6.81 per share. JMP Group is trading up about 0.8% on the day Wednesday. Jolson was up about 3.7% on the purchase at the high point of today's trading session, with JMP trading as high as $6.41 in trading on Wednesday.

VIDEO: Wednesday 9/30 Insider Buying Report: AGEN, JMP

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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