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 MBIA, a filing with the SEC revealed that on Wednesday, CEO & President William C. Fallon purchased 100,000 shares of MBI, at a cost of $6.17 each, for a total investment of $617,000. Fallon was up about 6.3% on the purchase at the high point of today's trading session, with MBI trading as high as $6.56 in trading on Friday. MBIA is trading up about 6.5% on the day Friday. This buy marks the first one filed by Fallon in the past twelve months.
And also on Wednesday, Director Daniel J. Becker purchased $449,400 worth of Pandion Therapeutics, purchasing 29,394 shares at a cost of $15.29 each. Before this latest buy, Becker made one other buy in the past year, purchasing $13.02M shares at a cost of $18.00 a piece. Pandion Therapeutics is trading up about 11.1% on the day Friday. So far Becker is in the green, up about 12.2% on their buy based on today's trading high of $17.15.
For MarketNewsVideo.com, I'm Sayoko Murase.
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