June 15, 2012 | last updated June 15, 2012 12:00 pm

New Haven's Achillion insider places $124K bet

Dennis Liotta, a board member at Achillion Pharmaceuticals Inc., this week placed a $123,900 investment bet on the future of the New Haven hepatitis C drug developer – one so far that's left him ahead, Forbes.com reports.

Monday, Liotta bought 20,000 Achillion shares for an average $6.19 each, the magazine's Web site reported Friday.

Since then, Achillion shares were changing hands at around $6.30, trading up about 1.6 percent on Thursday.

Insider buying or selling of shares can be a leading indicator to the rest of the market as to a company's outlook or whether insiders deem its shares as under- or overvalued.

In late-morning trading Friday, Achillion shares were down 13 cents, or 2 percent, at $6.64.

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