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 Tuesday, Catalyst Pharmaceutical Partners (NASDAQ:CPRX)'s EVP, Chief Commercial Officer, David D. Muth, made a $62,074 purchase of CPRX, buying 21,000 shares at a cost of $2.96 each. Catalyst Pharmaceutical Partners is trading up about 5.9% on the day Friday. Before this latest buy, Muth made one other buy in the past twelve months, purchasing $26,500 shares at a cost of $2.65 a piece.
And at MEI Pharma (NASDAQ:MEIP), there was insider buying on Wednesday, by Director Charles V. Baltic III who bought 5,000 shares for a cost of $3.81 each, for a total investment of $19,050. Before this latest buy, Baltic III bought MEIP at 2 other times during the past year, for a total cost of $25,926 at an average of $5.19 per share. MEI Pharma is trading down about 2.4% on the day Friday.
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