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 Acer Therapeutics, a filing with the SEC revealed that on Friday, Director Steve Aselage bought 45,000 shares of ACER, at a cost of $3.50 each, for a total investment of $157,500. So far Aselage is in the green, up about 13.1% on their buy based on today's trading high of $3.96. Acer Therapeutics is trading up about 9.8% on the day Tuesday. This purchase marks the first one filed by Aselage in the past year.
And at Republic Bancorp, there was insider buying on Friday, by Director Mark A. Vogt who purchased 4,000 shares for a cost of $31.14 each, for a total investment of $124,540. This purchase marks the first one filed by Vogt in the past twelve months. Republic Bancorp is trading up about 0.9% on the day Tuesday. So far Vogt is in the green, up about 3.5% on their buy based on today's trading high of $32.24.