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 Regulus Therapeutics (NASDAQ:RGLS), a filing with the SEC revealed that on Tuesday, Director William H. Rastetter bought 100,000 shares of RGLS, for a cost of $10.17 each, for a total investment of $1.02M. Bargain hunters are able to bag RGLS at a price even lower than Rastetter did, with the stock trading as low as $9.20 in trading on Wednesday -- that's 9.5% below Rastetter's purchase price. Regulus Therapeutics is trading off about 6.9% on the day Wednesday.
And also on Tuesday, Director James A. Mitarotonda bought $313,142 worth of Omnova Solutions (OMN), buying 45,000 shares at a cost of $6.96 a piece. Before this latest buy, Mitarotonda purchased OMN at 2 other times during the past year, for a total cost of $136,144 at an average of $7.96 per share. Omnova Solutions is trading up about 2.3% on the day Wednesday. Mitarotonda was up about 3.8% on the buy at the high point of today's trading session, with OMN trading as high as $7.22 in trading on Wednesday.
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