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 Precigen, a filing with the SEC revealed that on Thursday, Randal J. Kirk bought 96,686 shares of PGEN, for a cost of $1.41 each, for a total investment of $136,327. Precigen is trading up about 10.4% on the day Tuesday. Before this latest buy, Kirk made one other purchase in the past year, buying $757,612 shares at a cost of $1.52 a piece.
And at 180 Degree Capital, there was insider buying on Friday, by CEO Kevin Rendino who purchased 11,959 shares at a cost of $4.10 each, for a total investment of $49,070. Before this latest buy, Rendino purchased TURN at 13 other times during the past year, for a total investment of $321,853 at an average of $4.39 per share. 180 Degree Capital is trading up about 0.2% on the day Tuesday. So far Rendino is in the green, up about 0.3% on their purchase based on today's trading high of $4.12.
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