Monday 4/6 Insider Buying Report: ANVS, VALE
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 Annovis Bio, a filing with the SEC revealed that on Thursday, Director Michael B. Hoffman bought 713,800 shares of ANVS, at a cost of $2.10 each, for a total investment of $1.5M. So far Hoffman is in the green, up about 31.9% on their purchase based on today's trading high of $2.77. Annovis Bio is trading up about 18.8% on the day Monday. Before this latest buy, Hoffman bought ANVS at 5 other times during the past year, for a total cost of $2.46M at an average of $2.24 per share.
And at Vale, there was insider buying on Wednesday, by Executive VP Legal Officer Sobrinho Sami Arap who bought 12,990 shares for a cost of $16.11 each, for a trade totaling $209,290. This buy marks the first one filed by Arap in the past year. Vale is trading up about 0.1% on the day Monday. So far Arap is in the green, up about 1.2% on their purchase based on today's trading high of $16.30.
VIDEO: Monday 4/6 Insider Buying Report: ANVS, VALE