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One stock whose insiders are doing some active buying in is
Nanosphere(NSPH - Get Report), which develops, manufactures and markets an advanced molecular diagnostics platform, the Verigene System, that enables sensitive genomic and protein testing on a single platform. Insiders clearly see value here; this stock has been crushed in 2011, with shares off by over 70%.
Nanosphere has a market cap of $49.96 million and an enterprise value of -$7.18 million. The company is currently not profitable, with an operating cash flow of -$32.94 million and levered free cash flow of -$26.31 million. This is a cash-rich company, since the total cash position on its balance sheet is $54.53 million and its total debt is zero.
A director and beneficial owner just
bought 285,235 shares, or $314,928 worth of stock, at $1.10 per share. The CEO also recently bought 10,000 shares, of $9,000 worth of stock, at 90 cents per share.
technical standpoint, this stock is currently below both its 50-day and 200-day
moving averages, which is bearish. That said, the stock is quickly approaching a crossover of its 50-day of $1.25, and
volume going into the potential move is strong. Volume on Wednesday hit over 670,000 shares as the stock closed up 5.5%. That volume is well above its three-month average volume of 347,700 shares.
If you like this stock, I would look to get long once it busts above that 50-day moving average with volume. I would then add aggressively to any long position once the stock takes out $1.38 to $1.48 a share with volume. Target a run back towards $1.70 or possibly even higher if this stock wants to trend up significantly from current levels. Use a mental stop just below the 50-day if/when it does cross back above that key technical level.
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