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 Oramed Pharmaceuticals (NASDAQ:ORMP), a filing with the SEC revealed that on Wednesday, Director Xiaopeng Li purchased 89,636 shares of ORMP, for a cost of $8.50 each, for a total investment of $761,906. Investors have the opportunity to grab ORMP even cheaper than Li did, with shares trading as low as $8.01 in trading on Friday -- that's 5.8% under Li's purchase price. Oramed Pharmaceuticals is trading up about 1.6% on the day Friday. Before this latest buy, Li made one other purchase in the past twelve months, buying $334,313 shares at a cost of $6.33 a piece.
And at Nuvasive (NASDAQ:NUVA), there was insider buying on Tuesday, by EVP Global HR Peter Michael Leddy who bought 7,850 shares at a cost of $63.88 each, for a total investment of $501,487. This buy marks the first one filed by Leddy in the past twelve months. Nuvasive is trading up about 0.3% on the day Friday.
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