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.
Also, be sure to subscribe to one or more of our free newsletters so you never miss an important update. If you haven't already, connect with The Daily Marijuana Observer on Facebook, Twitter, and Instagram.
I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
I have no business relationship with any company whose stock is mentioned in this article.
The publishers of DailyMarijuanaObserver.com are not registered as Investment Advisors or Broker-Dealers in any jurisdiction whatsoever. The information contained on DailyMarijuanaObserver.com (“this site”) has been prepared solely for informational purposes. Nothing on the site is an offer or solicitation to buy or sell securities. Investors should seek financial advice regarding the appropriateness of investing in any securities mentioned from their financial advisor.