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 iTeos Therapeutics, a filing with the SEC revealed that on Wednesday, Chief Financial Officer Matthew Gall bought 5,000 shares of ITOS, for a cost of $26.09 each, for a total investment of $130,446. iTeos Therapeutics is trading down about 2.8% on the day Friday. This buy marks the first one filed by Gall in the past twelve months.
And also on Wednesday, Director Kevin W. Craig bought $130,011 worth of Franklin Financial Services, buying 4,305 shares at a cost of $30.20 each. Before this latest buy, Craig purchased FRAF at 13 other times during the past year, for a total investment of $86,018 at an average of $28.21 per share. Franklin Financial Services is trading off about 0.9% on the day Friday.
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