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 Monday, Surface Oncology's Director, David S. Grayzel, made a $1.5M purchase of SURF, buying 100,000 shares at a cost of $15.00 a piece. Investors can buy SURF even cheaper than Grayzel did, with the stock changing hands as low as $12.75 at last check today -- that's 15.0% under Grayzel's purchase price. Surface Oncology is trading up about 0.1% on the day Tuesday. This buy marks the first one filed by Grayzel in the past twelve months.
And on Thursday, Director Robert Van Dyk purchased $550,000 worth of Columbia Financial, purchasing 55,000 shares at a cost of $10.00 each. Columbia Financial is trading down about 0.3% on the day Tuesday. Van Dyk was up about 54.5% on the buy at the high point of today's trading session, with CLBK trading as high as $15.45 in trading on Tuesday.
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