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Massive Biotech Purchase Highlights Recent Insider Buying

We are just about through with the spooky month on Wall Street, and the third-quarter earnings are starting to wrap up, and one thing we are seeing here is an increase in overall insider activity. As we have discussed in the past, companies shut insider trading windows when earnings are released to keep the appearance of any impropriety totally out of the question.

We cover insider buying every week at 24/7 Wall St., and we like to remind readers that while insider buying is usually a very positive sign, it is not in of itself a reason to run out and buy a stock. Sometimes insiders and 10% owners have stock purchase plans set up at intervals to add to their holdings. That aside, it still remains a positive indicator.

Here are some of the companies that reported notable insider buying last week:

Biogen Inc. (NASDAQ: BIIB) had a huge purchase hit the tape this past week, one that may very well turn some heads in the biotech world. A director at the company bought a stunning 310,000 shares of the biotech giant at prices between $276.77 and $277.70 per share. The total for the purchase was an incredible $86 million. The stock is down almost $200 per...