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 Codorus Valley Bancorp, a filing with the SEC revealed that on Wednesday, Director John W. Giambalvo bought 4,672 shares of CVLY, for a cost of $21.35 each, for a total investment of $99,747. Giambalvo was up about 7.0% on the purchase at the high point of today's trading session, with CVLY trading as high as $22.84 at last check today. Codorus Valley Bancorp is trading up about 2.2% on the day Monday. Before this latest buy, Giambalvo made one other purchase in the past year, buying $32,333 shares for a cost of $19.73 each.
And at Harpoon Therapeutics, there was insider buying on Wednesday, by Chief Financial Officer Georgia Erbez who purchased 10,300 shares for a cost of $8.10 each, for a trade totaling $83,430. This buy marks the first one filed by Erbez in the past year. Harpoon Therapeutics is trading up about 0.5% on the day Monday.
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