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 Friday, DiaMedica Therapeutics's Chief Business Officer, David J. Wambeke, made a $150,003 buy of DMAC, purchasing 38,364 shares at a cost of $3.91 a piece. Wambeke was up about 14.8% on the purchase at the high point of today's trading session, with DMAC trading as high as $4.49 in trading on Wednesday. DiaMedica Therapeutics is trading off about 1.2% on the day Wednesday. Before this latest buy, Wambeke made one other buy in the past twelve months, purchasing $750,000 shares at a cost of $1.60 a piece.
And at Vera Therapeutics, there was insider buying on Friday, by Chief Financial Officer Sean Grant who bought 5,000 shares for a cost of $16.60 each, for a total investment of $83,000. Before this latest buy, Grant made one other purchase in the past twelve months, buying $99,995 shares at a cost of $7.00 a piece. Vera Therapeutics is trading up about 3% on the day Wednesday. Grant was up about 9.7% on the buy at the high point of today's trading session, with VERA trading as high as $18.21 at last check today.
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