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 Monday, Enterprise Financial Services' Director, John S. Eulich, made a $222,250 purchase of EFSC, buying 5,026 shares at a cost of $44.22 each. So far Eulich is in the green, up about 3.4% on their buy based on today's trading high of $45.71. Enterprise Financial Services is trading up about 1.7% on the day Wednesday. This buy marks the first one filed by Eulich in the past year.
And at Annovis Bio, there was insider buying on Friday, by Director Robert M. Whelan, Jr. who bought 25,000 shares for a cost of $6.00 each, for a trade totaling $150,000. This buy marks the first one filed by Whelan, Jr. in the past year. Annovis Bio Inc is trading off about 2.1% on the day Wednesday.
For MarketNewsVideo.com, I'm Sayoko Murase.