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 Howard Hughes, a filing with the SEC revealed that on Monday, Director Allen J. Model purchased 4,300 shares of HHC, at a cost of $97.17 each, for a total investment of $417,831. Model was up about 3.9% on the buy at the high point of today's trading session, with HHC trading as high as $100.95 in trading on Wednesday. Howard Hughes is trading up about 0.9% on the day Wednesday. This purchase marks the first one filed by Model in the past twelve months.
And at Virios Therapeutics, there was insider buying on Monday, by Chief Executive Officer Gregory Scott Duncan who bought 15,675 shares at a cost of $6.17 each, for a total investment of $96,757. Before this latest buy, Duncan made one other purchase in the past twelve months, buying $96,757 shares for a cost of $6.17 each. Virios Therapeutics is trading up about 1.1% on the day Wednesday.
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