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 Protagonist Therapeutics (NASDAQ:PTGX), a filing with the SEC revealed that on Tuesday, Director Julie Papanek bought 583,333 shares of PTGX, for a cost of $12.00 each, for a total investment of $7M. Bargain hunters are able to snag PTGX at a price even lower than Papanek did, with the stock trading as low as $11.54 in trading on Wednesday -- that's 3.8% under Papanek's purchase price. Protagonist Therapeutics is trading up about 1.4% on the day Wednesday. This buy marks the first one filed by Papanek in the past year.
And at Medley Capital Corporation (MCC), there was insider buying on Tuesday, by Chief Executive Officer Brook Taube who purchased 239,947 shares for a cost of $7.44 each, for a total investment of $1.79M. Medley Capital Corporation is trading up about 0.7% on the day Wednesday. So far Taube is in the green, up about 1.6% on their buy based on today's trading high of $7.56.
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