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 Wednesday, Regulus Therapeutics (NASDAQ:RGLS)'s Director, Stelios Papadopoulos, made a $607,900 buy of RGLS, purchasing 500,000 shares at a cost of $1.22 each. Papadopoulos was up about 35.7% on the buy at the high point of today's trading session, with RGLS trading as high as $1.65 at last check today. Regulus Therapeutics Inc is trading up about 14.3% on the day Monday. This buy marks the first one filed by Papadopoulos in the past year.
And at Tri-Continental (NYSE:TY), there was insider buying on Wednesday, by David L. King who bought 10,000 shares at a cost of $22.86 each, for a trade totaling $228,628. Before this latest buy, King made one other buy in the past year, purchasing $112,798 shares for a cost of $22.56 a piece. Tri-Continental Corporation is trading down about 0.6% on the day Monday. So far King is down about 0.8% on the buy, with shares changing hands as low as $22.69 in trading on Monday.
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