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 Aileron Therapeutics, a filing with the SEC revealed that on Monday, Director Josef H. Von Rickenbach purchased 227,272 shares of ALRN, for a cost of $1.10 each, for a total investment of $249,999. So far Von Rickenbach is in the green, up about 25.5% on their buy based on today's trading high of $1.38. Aileron Therapeutics is trading up about 11.9% on the day Wednesday. Before this latest buy, Von Rickenbach purchased ALRN on 4 other occasions during the past twelve months, for a total investment of $150,254 at an average of $0.89 per share.
And at Babcock & Wilcox Enterprises, there was insider buying on Friday, by Director Bryant R. Riley who purchased 42,000 shares for a cost of $2.65 each, for a total investment of $111,472. Before this latest buy, Riley purchased BW at 2 other times during the past twelve months, for a total investment of $200,062 at an average of $3.67 per share. Babcock & Wilcox Enterprises is trading off about 4.7% on the day Wednesday.
For MarketNewsVideo.com, I'm Sayoko Murase.