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.
On Tuesday, Concert Pharmaceuticals' Director, Christi Van Heek, made a $83,706 purchase of CNCE, buying 10,000 shares at a cost of $8.37 each. Bargain hunters can grab CNCE at a price even lower than Van Heek did, with shares trading as low as $5.92 in trading on Friday — that's 29.3% under Van Heek's purchase price. Concert Pharmaceuticals is trading up about 0.9% on the day Friday. This purchase marks the first one filed by Van Heek in the past year.
And on Monday, VP & Portfolio Manager Steven T. Romick purchased $59,900 worth of Source Capital, purchasing 1,665 shares at a cost of $35.98 each. Source Capital is trading up about 0.8% on the day Friday. So far Romick is in the green, up about 1.1% on their buy based on today's trading high of $36.38.
For MarketNewsVideo.com, I'm Sayoko Murase.