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, Novavax, Inc. (NVAX)'s Director, Richard Douglas, made a $60,500 buy of NVAX, purchasing 50,000 shares at a cost of $1.21 each. Novavax, Inc. is trading up about 4.3% on the day Wednesday. Before this latest buy, Douglas purchased NVAX on 2 other occasions during the past year, for a total cost of $161,750 at an average of $1.62 per share.
And on Monday, CEO Joseph Devivo purchased $59,094 worth of AngioDynamics Inc (ANGO), purchasing 5,000 shares at a cost of $11.82 each. Before this latest buy, Devivo made one other purchase in the past year, buying $38,850 shares at a cost of $12.95 each. AngioDynamics Inc is trading up about 1.1% on the day Wednesday.
