Two insiders at Insys Therapeutics, Inc. (NASDAQ:INSY) submitted Form 4s to the SEC for recent purchases of stock, often considered to be a bullish signal for companies. Since officers and directors of companies have the most complete picture of what is going on inside of their organization, it's a major vote of confidence to see them buying shares.
Insider Buying by the President & CEO
The President and CEO of Insys, Saeed Motahari, filed a Statement of Changes in Beneficial Ownership (a Form 4) with the SEC on May 16th to report a stock purchase. On May 16th, Mr. Motahari purchased 4,500 shares of INSY at a weighted average price of $11.9848 per share. The purchase amounted to an investment of $53,931.60. Following the transaction, Mr. Motahari beneficially owns 4,500 shares of INSY.
Insider Buying by the Executive Chairman
The Executive Chairman of the Board of Directors at Insys, Steven Meyer, filed a Form 4 with the SEC on May 18th to report a stock purchase. On May 18th, Mr. Meyer purchased 8,000 shares of INSY at a price of $12.21 per share. The purchase amounts to an investment of $97,680. Following the purchase, Mr. Meyer beneficially owns 52,083 shares of INSY.
Conclusion
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