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.
At Ignyta (NASDAQ:RXDX), a filing with the SEC revealed that on Wednesday, Director Alexander W. Casdin bought 232,000 shares of RXDX, for a cost of $6.25 each, for a total investment of $1.45M. So far Casdin is in the green, up about 15.3% on their buy based on today's trading high of $7.21. Ignyta is trading up about 1.5% on the day Thursday. Before this latest buy, Casdin made one other purchase in the past year, buying $1.15M shares for a cost of $17.50 a piece.
And also on Wednesday, CEO Necip Sayiner purchased $255,486 worth of Intersil Corp. (NASDAQ:ISIL), purchasing 22,000 shares at a cost of $11.61 a piece. Before this latest buy, Sayiner made one other purchase in the past twelve months, buying $398,050 shares at a cost of $10.47 each. Intersil Corp. is trading up about 2.1% on the day Thursday. So far Sayiner is in the green, up about 4.3% on their purchase based on today's trading high of $12.11.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.