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 Monday, Bridgebio Pharma's, Michael Thomas Henderson, made a $119,000 buy of BBIO, purchasing 7,000 shares at a cost of $17.00 a piece. Henderson was up about 69.4% on the purchase at the high point of today's trading session, with BBIO trading as high as $28.80 in trading on Friday. Bridgebio Pharma is trading down about 3% on the day Friday. This purchase marks the first one filed by Henderson in the past twelve months.
And also on Monday, Director Bansi Nagji bought $65,000 worth of Change Healthcare, buying 5,000 shares at a cost of $13.00 a piece. This purchase marks the first one filed by Nagji in the past twelve months. Change Healthcare is trading up about 0.7% on the day Friday. So far Nagji is in the green, up about 16.5% on their purchase based on today's trading high of $15.15.
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