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, Eyenovia's , Stuart M. Grant, made a $293,663 buy of EYEN, purchasing 60,692 shares at a cost of $4.84 each. Eyenovia is trading up about 5.9% on the day Wednesday. Before this latest buy, Grant bought EYEN on 3 other occasions during the past year, for a total investment of $2.71M at an average of $2.82 per share.
And at Cryo-cell, there was insider buying on Tuesday, by Chairman, Co-CEO David Portnoy who purchased 11,000 shares at a cost of $9.90 each, for a total investment of $108,900. Before this latest buy, Portnoy purchased CCEL at 10 other times during the past twelve months, for a total cost of $768,635 at an average of $7.83 per share. Cryo-cell is trading up about 1.2% on the day Wednesday. So far Portnoy is in the green, up about 16.2% on their purchase based on today's trading high of $11.50.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
