"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. This is all the more so during times of uncertainty in the markets, and even when markets are near all-time highs."
"The stock is almost 10% higher than six months ago and was last seen trading above the buyer's purchase price. However, the share price is still down less than 2% year over year. But two analysts who cover the stock see plenty of room to run, as their mean price target is up at $14.50, and they have set Buy ratings."
Insider buying can signal confidence because corporate insiders and 10% owners typically buy shares when they expect price appreciation and profit. The start of the third-quarter earnings season can limit insider trading due to blackout periods, yet notable purchases still occur. Two biotech companies recorded significant insider buys recently. The largest recent transaction involved Cantor Fitzgerald acquiring more than 8.9 million shares of fintech BGC Group at about $9.21 per share, a transaction reportedly sold by director Howard Lutnick. BGC announced an acquisition, faces a mixed year-over-year share price, and has analyst Buy ratings with a mean target of $14.50.
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