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 Thursday, Cerevel Therapeutics Holdings (CERE)'s CEO, Ronald C. Renaud Jr., made a $2.01M purchase of CERE, buying 83,857 shares at a cost of $23.96 a piece. Investors have the opportunity to bag CERE even cheaper than Renaud Jr. did, with shares changing hands as low as $21.95 in trading on Tuesday -- that's 8.4% under Renaud Jr.'s purchase price. Cerevel Therapeutics Holdings is trading up about 9.5% on the day Tuesday. This purchase marks the first one filed by Renaud Jr. in the past twelve months.
And at Mid-America Apartment Communities (MAA), there was insider buying on Monday, by Director William Reid Sanders who purchased 3,000 shares at a cost of $146.84 each, for a total investment of $440,513. Mid-America Apartment Communities is trading down about 1.2% on the day Tuesday. Investors can snag MAA at a price even lower than Sanders did, with shares trading as low as $145.13 at last check today -- that's 1.2% under Sanders's purchase price.
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