There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on December 10, Cerecor Inc's Interim CFO, Christopher Ryan Sullivan, invested $11,606.41 into 5,095 shares of CERC, for a cost per share of $2.28. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money.
In trading on Thursday, bargain hunters could buy shares of Cerecor Inc (CERC) and achieve a cost basis 7.4% cheaper than Sullivan, with shares changing hands as low as $2.11 per share. Cerecor Inc shares are currently trading off about 10.6% on the day. The chart below shows the one year performance of CERC shares, versus its 200 day moving average:
Looking at the chart above, CERC's low point in its 52 week range is $1.98 per share, with $4.50 as the 52 week high point — that compares with a last trade of $2.12. By comparison, below is a table showing the prices at which CERC insider buying was recorded over the last six months:
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One Reason For Insiders to Buy
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