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 Idera Pharmaceuticals (IDRA), a filing with the SEC revealed that on Friday, CEO Vincent Milano purchased 200,000 shares of IDRA, at a cost of $4.00 each, for a total investment of $799,100. Investors can grab IDRA even cheaper than Milano did, with the stock changing hands as low as $3.52 at last check today which is 11.9% under Milano's purchase price. Idera Pharmaceuticals is trading up about 5.1% on the day Tuesday. This purchase marks the first one filed by Milano in the past year.
And on Monday, Director Michael McShane bought $600,000 worth of Oasis Petroleum (OAS), buying 50,000 shares at a cost of $12.00 a piece. Oasis Petroleum is trading up about 9.8% on the day Tuesday.
