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 Axovant Sciences (NASDAQ:AXON), a filing with the SEC revealed that on Monday, Director W. Anthony Vernon bought 53,937 shares of AXON, at a cost of $18.54 each, for a total investment of $999,992. Vernon was up about 27.2% on the purchase at the high point of today's trading session, with AXON trading as high as $23.58 at last check today. Axovant Sciences is trading up about 2.1% on the day Thursday.
And on Wednesday, Director Xiaopeng Li bought $334,313 worth of Oramed Pharmaceuticals (NASDAQ:ORMP), buying 52,814 shares at a cost of $6.33 each. Oramed Pharmaceuticals is trading up about 1.7% on the day Thursday. Li was up about 2.5% on the buy at the high point of today's trading session, with ORMP trading as high as $6.49 at last check today.
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