As everyone knows, I’m a great fan of watching what insiders buy. The most telling buy though is one done near the stock’s highs. The reason this is interesting is that most buying is done near the lows, after a bad spout of news,earnings disappointments, or some other matter that has driven down the stock’s price. Insiders as a rule are value buyers. That’s why it’s very interesting to note that Per Wold-Olsen, a director of Giliad bought another 10,000 shares at $43.05 on February 28th. Wold-Olsen, a former President of Merck has been on the board of Giliad since 2010. Why did he bump up his holdings of Giliad to 69,458 shares at a 52-wk high? There’s a lot to like in this high flying biotech but is now the time to add to your position considering the $65 billion market cap of the Company? Giliad has several drugs in Phase III. My guess is that the prognosis is good.
