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 Soleno Therapeutics (NASDAQ:SLNO), a filing with the SEC revealed that on Friday, Director Andrew Sinclair purchased 2,300,000 shares of SLNO, for a cost of $1.20 each, for a total investment of $2.76M. So far Sinclair is in the green, up about 28.3% on their buy based on today's trading high of $1.54. Soleno Therapeutics is trading off about 1.9% on the day Wednesday. Before this latest buy, Sinclair made one other buy in the past twelve months, purchasing $7.47M shares for a cost of $1.60 a piece.
And at Ford Motor (NYSE:F), there was insider buying on Friday, by Director John C. Lechleiter who purchased 25,000 shares at a cost of $8.68 each, for a trade totaling $216,998. Before this latest buy, Lechleiter bought F at 2 other times during the past twelve months, for a total cost of $199,150 at an average of $9.96 per share. Ford Motor is trading down about 1% on the day Wednesday. Bargain hunters are able to snag F at a price even lower than Lechleiter did, with shares changing hands as low as $8.52 at last check today — that's 1.8% under Lechleiter's purchase price.
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