As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
At PTC Therapeutics, a filing with the SEC revealed that on Tuesday, Director Dawn Svoronos purchased 25,000 shares of PTCT, for a cost of $13.49 each, for a total investment of $337,230. Investors are able to pick up PTCT even cheaper than Svoronos did, with shares changing hands as low as $12.52 in trading on Thursday -- that's 7.2% below Svoronos's purchase price. PTC Therapeutics is trading up about 1.1% on the day Thursday. This purchase marks the first one filed by Svoronos in the past year.
And at G1 Therapeutics, there was insider buying on Monday, by Director Glenn P. Muir who bought 20,000 shares for a cost of $15.00 each, for a trade totaling $300,000. G1 Therapeutics is trading up about 0.8% on the day Thursday. So far Muir is in the green, up about 13.3% on their purchase based on today's trading high of $17.00.
For MarketNewsVideo.com, I'm Sayoko Murase.