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Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.

At Allogene Therapeutics, a filing with the SEC revealed that on Thursday, Director Arie Belldegrun purchased 1,724,137 shares of ALLO, at a cost of $2.90 each, for a total investment of $5M. Allogene Therapeutics is trading up about 7.3% on the day Tuesday.

And at Nikola, there was insider buying on Monday, by Chief Executive Officer Stephen J. Girsky who purchased 1,000,000 shares for a cost of $0.54 each, for a trade totaling $540,000. Nikola is trading up about 7.4% on the day Tuesday. Girsky was up about 5.9% on the purchase at the high point of today's trading session, with NKLA trading as high as $0.57 at last check today.

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