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 Monday, General American Investors Incorporated (NYSE:GAM)'s President, Jeffrey W. Priest, made a $30,019 purchase of GAM, buying 1,100 shares at a cost of $27.29 a piece. General American Investors Incorporated is trading down about 1.2% on the day Friday. Before this latest buy, Priest purchased GAM at 8 other times during the past twelve months, for a total cost of $420,608 at an average of $26.81 per share.
And on Tuesday, Chief Operating Officer Steve Miller purchased $21,951 worth of Catalyst Pharmaceutical Partners Inc (NASDAQ:CPRX), purchasing 40,000 shares at a cost of $0.55 a piece. This buy marks the first one filed by Miller in the past twelve months. Catalyst Pharmaceutical Partners Inc is trading up about 3.6% on the day Friday. Miller was up about 9.3% on the purchase at the high point of today's trading session, with CPRX trading as high as $0.60 in trading on Friday.
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