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 Syros Pharmaceuticals (NASDAQ:SYRS), a filing with the SEC revealed that on Thursday, Director Srinivas Akkaraju bought 109,774 shares of SYRS, at a cost of $9.03 each, for a total investment of $991,558. So far Akkaraju is in the green, up about 3.8% on their buy based on today's trading high of $9.38. Syros Pharmaceuticals is trading up about 1.4% on the day Friday. This buy marks the first one filed by Akkaraju in the past year.
And at BMC Stock Holdings (NASDAQ:BMCH), there was insider buying on Wednesday, by Keith Costello who bought 15,000 shares at a cost of $23.13 each, for a total investment of $346,916. This purchase marks the first one filed by Costello in the past twelve months. BMC Stock Holdings is trading up about 1.7% on the day Friday.
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