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 Thursday, Merrimack Pharmaceuticals', Eric Andersen, made a $651,754 purchase of MACK, buying 49,550 shares at a cost of $13.15 each. So far Andersen is in the green, up about 2.3% on their purchase based on today's trading high of $13.46. Merrimack Pharmaceuticals is trading up about 1% on the day Friday. Before this latest buy, Andersen purchased MACK at 4 other times during the past year, for a total investment of $5.14M at an average of $11.88 per share.
And on Tuesday, Jonathan C. Fox bought $100,958 worth of Edgewise Therapeutics, buying 10,857 shares at a cost of $9.30 each. Edgewise Therapeutics is trading off about 2.2% on the day Friday. So far Fox is in the green, up about 28.2% on their buy based on today's trading high of $11.92.
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