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 ADial Pharmaceuticals, a filing with the SEC revealed that on Thursday, Director James W. Newman Jr. bought 25,000 shares of ADIL, at a cost of $2.69 each, for a total investment of $67,300. ADial Pharmaceuticals is trading up about 5% on the day Monday. Before this latest buy, Newman Jr. made one other purchase in the past twelve months, buying $28,500 shares at a cost of $2.85 each.
And also on Thursday, CEO Bryan Lewis purchased $24,983 worth of Intellicheck, purchasing 5,000 shares at a cost of $5.00 each. Before this latest buy, Lewis made one other purchase in the past twelve months, buying $4,910 shares at a cost of $4.91 a piece. Intellicheck is trading up about 16.5% on the day Monday.
VIDEO: Monday 1/3 Insider Buying Report: ADIL, IDN
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.