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.
On Friday, Scholar Rock Holding’s, Srinivas Akkaraju, made a $1.18M buy of SRRK, purchasing 29,599 shares at a cost of $39.92 a piece. Akkaraju was up about 13.5% on the purchase at the high point of today’s trading session, with SRRK trading as high as $45.32 at last check today. Scholar Rock Holding is trading up about 0.4% on the day Wednesday. Before this latest buy, Akkaraju made one other buy in the past twelve months, purchasing $18.81M shares for a cost of $37.58 a piece.
And also on Friday, Chief Executive Officer Todd Usen purchased $225,973 worth of Adagio Medical Holdings, purchasing 207,315 shares at a cost of $1.09 each. Adagio Medical Holdings is trading off about 2.5% on the day Wednesday.
VIDEO: Wednesday 12/17 Insider Buying Report: SRRK, ADGM
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
