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.
On Monday, aTyr Pharma (NASDAQ:LIFE)'s Director, Paul Schimmel, made a $2M purchase of LIFE, buying 250,000 shares at a cost of $8.00 each. Schimmel was up about 57.4% on the purchase at the high point of today's trading session, with LIFE trading as high as $12.59 at last check today. aTyr Pharma is trading up about 7.9% on the day Thursday. Before this latest buy, Schimmel made one other buy in the past twelve months, purchasing $199,000 shares at a cost of $3.98 each.
And on Tuesday, Director Gary W. Pace bought $202,500 worth of Cardiff Oncology (NASDAQ:CRDF), buying 30,000 shares at a cost of $6.75 each. Before this latest buy, Pace bought CRDF on 3 other occasions during the past year, for a total cost of $147,858 at an average of $10.20 per share. Cardiff Oncology is trading up about 4.3% on the day Thursday. Pace was up about 9.6% on the purchase at the high point of today's trading session, with CRDF trading as high as $7.40 at last check today.
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