Friday 12/2 Insider Buying Report: IE, OABI

Bargain hunters are advised to pay close attention to insider buying because while there are many reasons for an insider to sell a stock, the only reason they would likely use their hard-earned cash to make a purchase is that it expects to make money. Today we take a look at two notable recent insider buys.

At Ivanhoe Electric, an SEC filing revealed that on Tuesday Executive Chairman Robert M. Friedland purchased 422,767 shares of IE, at a cost of $9.85 each, for a total investment of $4.16 million. of dollars. So far, Friedland is in the green, up about 16.3% on its long based on today’s trading high of $11.46. Ivanhoe Electric is trading down around 11.3% on Friday. Prior to this latest purchase, Friedland purchased IE on 2 other occasions in the past year, for a total cost of $4.88M ​​at an average of $8.18 per share.

And at OmniAb, there was some insider buying on Wednesday, with CEO Matthew W. Foehr buying 300,000 shares at a cost of $3.39 each, for a total investment of $1.02M. Prior to this latest purchase, Foehr made another purchase over the past year, buying $276,160 worth of shares at a cost of $2.76 each. OmniAb is trading up around 4.3% on Friday.

VIDEO: Friday 12/2 Insider Buying Report: IE, OABI

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