Monday 8/17 Insider Buying Report: ABCL, BPRN
As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
At AbCellera Biologics, a filing with the SEC revealed that on Wednesday, Director Michael R. Hayden purchased 46,387 shares of ABCL, for a cost of $10.37 each, for a total investment of $481,033. So far Hayden is in the green, up about 11.3% on their purchase based on today's trading high of $11.54. AbCellera Biologics is trading up about 1.1% on the day Monday. This purchase marks the first one filed by Hayden in the past year.
And at Princeton Bancorp, there was insider buying on Wednesday, by Martin Tuchman who bought 10,534 shares for a cost of $42.98 each, for a total investment of $452,730. Before this latest buy, Tuchman bought BPRN at 7 other times during the past year, for a total cost of $905,733 at an average of $32.81 per share. Princeton Bancorp is trading up about 0.1% on the day Monday.
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