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 Wednesday, Trecora Resources' CEO, Patrick D. Quarles, made a $63,446 purchase of TREC, buying 6,952 shares at a cost of $9.13 a piece. Trecora Resources is trading up about 0.3% on the day Thursday. This purchase marks the first one filed by Quarles in the past year.
And at Abeona Therapeutics, there was insider buying on Monday, by Director Stephen B. Howell who bought 4,000 shares for a cost of $7.77 each, for a trade totaling $31,080. This buy marks the first one filed by Howell in the past twelve months. Abeona Therapeutics is trading up about 3.6% on the day Thursday.