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, Titan Machinery's Director, Stan K. Erickson, made a $103,803 purchase of TITN, buying 8,302 shares at a cost of $12.50 a piece. So far Erickson is in the green, up about 5.5% on their purchase based on today's trading high of $13.19. Titan Machinery is trading up about 1.6% on the day Thursday.
And at Catalyst Pharmaceuticals, there was insider buying on Tuesday, by CEO Patrick J. McEnany who purchased 20,000 shares at a cost of $2.58 each, for a trade totaling $51,560. This purchase marks the first one filed by McEnany in the past twelve months. Catalyst Pharmaceuticals is trading up about 0.4% on the day Thursday. Investors are able to grab CPRX at a price even lower than McEnany did, with shares trading as low as $2.50 in trading on Thursday -- that's 3.0% below McEnany's purchase price.
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