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, Catalyst Pharmaceutical Partners ( CPRX )'s CEO, Patrick J. McEnany, made a $139,750 purchase of CPRX, buying 50,000 shares at a cost of $2.79 a piece. McEnany was up about 2.7% on the purchase at the high point of today's trading session, with CPRX trading as high as $2.87 at last check today.
And also on Thursday, Director Milton Boniuk bought $65,000 worth of NanoViricides ( NNVC ), buying 25,000 shares at a cost of $2.60 each. Before this latest buy, Boniuk bought NNVC on 4 other occasions during the past twelve months, for a total cost of $730,536 at an average of $3.15 per share. NanoViricides is trading off about 1.4% 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.
