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, Fortress Biotech's PRESIDENT Lindsay A. Rosenwald made a $1.40M buy of FBIO, purchasing 763,359 shares at a cost of $1.84 each. Bargain hunters can pick up FBIO even cheaper than Rosenwald, M.D. did, with the stock changing hands as low as $1.46 at last check today -- that's 20.7% under Rosenwald, M.D.'s purchase price. Fortress Biotech is trading up about 4.2% on the day Thursday. Before this latest buy, Rosenwald, M.D. bought FBIO on 3 other occasions during the past year, for a total cost of $2.82M at an average of $1.72 per share.
And on Tuesday, James H. Dahl purchased $92,250 worth of AMREP, purchasing 3,000 shares at a cost of $30.75 a piece. Before this latest buy, Dahl purchased AXR at 27 other times during the past year, for a total investment of $3.34M at an average of $20.97 per share. AMREP is trading up about 1% on the day Thursday.
VIDEO: Thursday 9/26 Insider Buying Report: FBIO, AXR
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