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 a recent insider purchase of note.
At CymaBay Therapeutics, a filing with the SEC revealed that on Thursday, Chief Executive Officer Sujal Shah bought 5,000 shares of CBAY, for a cost of $4.30 each, for a total investment of $21,500. So far Shah is in the green, up about 8.6% on their purchase based on today's trading high of $4.67. CymaBay Therapeutics is trading up about 5.9% on the day Tuesday. Before this latest buy, Shah purchased CBAY on 3 other occasions during the past twelve months, for a total cost of $142,554 at an average of $7.13 per share.
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