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 Oric Pharmaceuticals, a filing with the SEC revealed that on Friday, CEO Jacob Chacko bought 350,000 shares of ORIC, at a cost of $4.92 each, for a total investment of $1.72M. So far Chacko is in the green, up about 12.5% on their purchase based on today's trading high of $5.54. Oric Pharmaceuticals is trading up about 16.7% on the day Monday. This purchase marks the first one filed by Chacko in the past year.
And also on Friday, Director Robert Carey bought $173,872 worth of Beyond Air, buying 26,185 shares at a cost of $6.64 each. Before this latest buy, Carey purchased XAIR on 4 other occasions during the past twelve months, for a total cost of $412,250 at an average of $9.16 per share. Beyond Air is trading off about 1.6% on the day Monday.
For MarketNewsVideo.com, I'm Sayoko Murase.