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 UFP Technologies Inc. (NASDAQ:UFPT), a filing with the SEC revealed that on Monday, Director Robert W. Pierce Jr. purchased 12,000 shares of UFPT, at a cost of $16.52 each, for a total investment of $198,200. UFP Technologies Inc. is trading up about 1.8% on the day Wednesday. Before this latest buy, Pierce Jr. made one other purchase in the past twelve months, buying $3,160 shares for a cost of $15.72 a piece.
And on Friday, Director Matthew Strobeck purchased $170,785 worth of Metabolix Inc (NASDAQ:MBLX), purchasing 155,000 shares at a cost of $1.10 each. Before this latest buy, Strobeck bought MBLX on 2 other occasions during the past twelve months, for a total cost of $531,460 at an average of $2.66 per share. Metabolix Inc is trading up about 22.8% on the day Wednesday. Strobeck was up about 29.8% on the purchase at the high point of today's trading session, with MBLX trading as high as $1.43 at last check today.
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