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 Syros Pharmaceuticals ( SYRS ), a filing with the SEC revealed that on Thursday, Director Srinivas Akkaraju bought 109,774 shares of SYRS, at a cost of $9.03 each, for a total investment of $991,558. So far Akkaraju is in the green, up about 3.8% on their buy based on today's trading high of $9.38. Syros Pharmaceuticals is trading up about 1.4% on the day Friday. This buy marks the first one filed by Akkaraju in the past year.
And at BMC Stock Holdings ( BMCH ), there was insider buying on Wednesday, by Keith Costello who bought 15,000 shares at a cost of $23.13 each, for a total investment of $346,916. This purchase marks the first one filed by Costello in the past twelve months. BMC Stock Holdings is trading up about 1.7% on the day Friday.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
