Thursday 7/16 Insider Buying Report: CHMA, YORW
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 Chiasma, a filing with the SEC revealed that on Tuesday, Chief Executive Officer Raj Kannan purchased 10,000 shares of CHMA, at a cost of $4.20 each, for a total investment of $42,000. Kannan was up about 13.8% on the buy at the high point of today's trading session, with CHMA trading as high as $4.78 at last check today. Chiasma is trading up about 14% on the day Thursday.
And on Wednesday, Director Jeffrey R. Hines purchased $12,558 worth of York Water, purchasing 282 shares at a cost of $44.56 a piece. Before this latest buy, Hines purchased YORW at 4 other times during the past twelve months, for a total cost of $49,721 at an average of $43.04 per share. York Water is trading up about 0.7% on the day Thursday. So far Hines is in the green, up about 8.5% on their buy based on today's trading high of $48.36.