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 Tuesday, Abeona Therapeutics' Chief Executive Officer, Vishwas Seshadri, made a $87,800 buy of ABEO, purchasing 20,000 shares at a cost of $4.39 a piece. Seshadri was up about 14.7% on the buy at the high point of today's trading session, with ABEO trading as high as $5.04 in trading on Wednesday. Abeona Therapeutics is trading up about 13.8% on the day Wednesday. Before this latest buy, Seshadri made one other buy in the past year, purchasing $81,400 shares for a cost of $4.07 each.
And at AFLAC, there was insider buying on Tuesday, by Director Karole Lloyd who purchased 1,000 shares at a cost of $77.28 each, for a total investment of $77,280. AFLAC is trading up about 1.9% on the day Wednesday.
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