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 Corcept Therapeutics Inc (NASDAQ:CORT), a filing with the SEC revealed that on Friday, Director Daniel Bradbury purchased 179,000 shares of CORT, for a cost of $1.39 each, for a total investment of $248,985. Bradbury was up about 6.4% on the buy at the high point of today's trading session, with CORT trading as high as $1.48 in trading on Tuesday. Corcept Therapeutics Inc is trading up about 5% on the day Tuesday. This buy marks the first one filed by Bradbury in the past twelve months.
And also on Friday, Director Jeffrey E. Eberwein bought $102,814 worth of Goldfield Corp. (AMEX:GV), buying 61,800 shares at a cost of $1.66 a piece. Before this latest buy, Eberwein purchased GV on 6 other occasions during the past year, for a total cost of $358,341 at an average of $1.74 per share. Goldfield Corp. is trading up about 3.5% on the day Tuesday.
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