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from the world of economics and financeBargain 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 Immunome (IMNM), a filing with the SEC revealed that on Tuesday, CEO Clay B. Siegall bought 100,000 shares of IMNM, for a cost of $13.88 each, for a total investment of $1.39M. So far Siegall is in the green, up about 9.7% on their buy based on today's trading high of $15.23. Immunome is trading up about 9.2% on the day Wednesday. Before this latest buy, Siegall made one other purchase in the past twelve months, buying $999,996 shares at a cost of $5.91 a piece.
And on Monday, VP - Chief Human Resources Off Marvin Boakye purchased $499,133 worth of Cummins (CMI), purchasing 1,745 shares at a cost of $286.04 a piece. This buy marks the first one filed by Boakye in the past year. Cummins is trading up about 0.7% on the day Wednesday.
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