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Notable Insider Buys Of The Past Week: Affirm, HEICO, Vector Group, Biotechs And More

  • Insider buying can be an encouraging signal for potential investors, especially when markets face uncertainty.
  • Insiders have been taking advantage of secondary and initial public offerings recently.
  • Biotech companies are once again well represented on this list of notable insider share purchases.

Conventional wisdom says that insiders and 10% owners really only buy shares of a company for one reason — they believe the stock price will rise and they want to profit from it. So insider buying can be an encouraging signal for potential investors, particularly when there is uncertainty in the markets. Note that with earnings reporting season in full swing, buy windows for many insiders are closed.

Here are some of the most noteworthy insider purchases that were reported in the past week.

Biotech company Aldeyra Therapeutics Inc (NASDAQ: ALDX) saw a 10% owner return and add almost 1.37 million shares to its stake. At a secondary offering price of $9.50 per share, the transaction totaled about $13 million. The stock closed most recently at $12.29 a share, after hitting a 52-week high of $14.62 earlier in the week. It is up about 79% year to date.

Cancer-testing products maker OncoCyte Corp (AMEX: OCX) also had a 10% owner increase its stake last week. The more than 1.46 million shares acquired, at an offering price of about $3.42, added up to approximately $5 million. That …

Full story available on Benzinga.com

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