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 a noteworthy recent insider buy.
On Friday, Director Michael E. Porter purchased $270,185 worth of Merrimack Pharmaceuticals (NASDAQ:MACK), purchasing 75,000 shares at an average cost of $3.60 each. Before this latest buy, Porter made one other buy in the past year, purchasing $60,800 shares for a cost of $6.08 a piece. Merrimack Pharmaceuticals is trading up about 5.7% on the day Monday.
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