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 Biogen (NASDAQ:BIIB), a filing with the SEC revealed that on Wednesday, Director Alexander J. Denner purchased 30,000 shares of BIIB, at a cost of $317.36 each, for a total investment of $9.52M. Denner was up about 1.7% on the purchase at the high point of today's trading session, with BIIB trading as high as $322.91 at last check today. Biogen is trading up about 0.1% on the day Thursday. Before this latest buy, Denner made one other purchase in the past twelve months, buying $20.57M shares at a cost of $278.50 each.
And also on Wednesday, Director Alexander J. Denner bought $5.11M worth of Medicines (MDCO), buying 170,000 shares at a cost of $30.03 each. Medicines is trading up about 2.4% on the day Thursday.
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