Public offerings of stock tempted some insiders, including a chief executive, to increase their stakes in a couple of biotechs and an industrial products maker. Also, an insider stepped up to support an online delivery service provider struggling to gain momentum. These were among the most notable insider purchases of the third week of February.
A well-known adage reminds us that corporate insiders and 10% owners really only buy shares of a company because they believe the stock price will rise and they want to profit from it. Thus, insider buying can be an encouraging signal for potential investors.
Here are some of the more notable insider purchases that were reported in the past week…
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