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Affymax, Inc. (AFFY) Message Board

  • immunocell immunocell Dec 19, 2011 2:30 PM Flag

    Bargain Hunters Take Note: Insider Cluster-Buying At ECYT

    Bargain Hunters Take Note: Insider Cluster-Buying At ECYT

    By Market News Video Staff, Monday, December 19, 10:50 AM ET 0

    A particularly strong insider buying signal is what we call a "cluster-buy" where three or more different insiders make open market purchases within a short period of one another. At Endocyte Inc (NASDAQ:ECYT), 3 different insiders purchased 146,000 shares at an average price of $3.35/share, for a total of $488,606, with the most recent purchase on December 16, 2011.

    Presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money. So when multiple insiders all decide to make purchases around the same time, it could
    a strong indication that the stock is undervalued. Below is a table summarizing the insider buys that make up this "cluster":

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