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.
On Wednesday, Allakos (ALLK)'s Director, Paul Edward Walker, made a $20M buy of ALLK, purchasing 3,984,000 shares at a cost of $5.02 a piece. So far Walker is in the green, up about 23.1% on their buy based on today's trading high of $6.18. Allakos is trading up about 15.4% on the day Monday.
And on Friday, Morris E. Foster bought $306,040 worth of Comstock Resources (CRK), buying 18,000 shares at a cost of $17.00 each. Before this latest buy, Foster purchased CRK on 2 other occasions during the past year, for a total investment of $497,650 at an average of $17.77 per share. Comstock Resources is trading up about 2.4% on the day Monday. Bargain hunters are able to grab CRK at a price even lower than Foster did, with shares changing hands as low as $16.11 at last check today -- that's 5.2% below Foster's purchase price.
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