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 Pain Therapeutics (NASDAQ:PTIE), a filing with the SEC revealed that on Wednesday, Director Sanford Robertson purchased 50,000 shares of PTIE, for a cost of $3.73 each, for a total investment of $186,729. Pain Therapeutics is trading up about 11.4% on the day Friday.
And on Tuesday, Senior Vice President Pablo Munoz purchased $176,500 worth of Avon Products (NYSE:AVP), purchasing 10,000 shares at a cost of $17.65 each. Before this latest buy, Munoz made one other buy in the past year, purchasing $263,280 shares for a cost of $21.94 each. Avon Products is trading up about 0.1% on the day Friday.
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