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 Unum Therapeutics, a filing with the SEC revealed that on Tuesday, Director Liam Ratcliffe purchased 550,000 shares of UMRX, for a cost of $12.00 each, for a total investment of $6.6M. Investors can buy UMRX at a price even lower than Ratcliffe did, with shares changing hands as low as $10.54 at last check today which is 12.2% under Ratcliffe's purchase price. Unum Therapeutics is trading down about 0.3% on the day Wednesday. This purchase marks the first one filed by Ratcliffe in the past twelve months.
And at Northern Trust, there was insider buying on Saturday, by Director Dean M. Harrison who purchased 1,018 shares at a cost of $72.95 each, for a trade totaling $74,259. This buy marks the first one filed by Harrison in the past year. Northern Trust ]is trading down about 0.4% on the day Wednesday. Harrison was up about 41.9% on the purchase at the high point of today's trading session, with NTRS trading as high as $103.53 in trading on Wednesday.
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