Wednesday 4/1 Insider Buying Report: PAGS, ZBIO
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 PagSeguro Digital, a filing with the SEC revealed that on Friday, Director Luis Frias bought 498,500 shares of PAGS, for a cost of $9.96 each, for a total investment of $4.97M. Frias was up about 6.3% on the purchase at the high point of today's trading session, with PAGS trading as high as $10.59 in trading on Wednesday. PagSeguro Digital is trading up about 4% on the day Wednesday.
And at Zenas Biopharma, there was insider buying on Tuesday, by Director Hongbo Lu who bought 75,000 shares for a cost of $20.00 each, for a total investment of $1.5M. Before this latest buy, Lu purchased ZBIO on 2 other occasions during the past twelve months, for a total cost of $6.58M at an average of $18.92 per share. Zenas Biopharma is trading down about 0.2% on the day Wednesday.
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