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.
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