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 Thursday, Dova Pharmaceuticals' Director, Steven M. Goldman, made a $151,100 purchase of DOVA, buying 5,000 shares at a cost of $30.22 a piece. So far Goldman is in the green, up about 13.3% on their buy based on today's trading high of $34.23. Dova Pharmaceuticals is trading up about 3.8% on the day Monday. Before this latest buy, Goldman purchased DOVA at 3 other times during the past twelve months, for a total investment of $1.79M at an average of $19.41 per share.
And at AbbVie, there was insider buying on Wednesday, by Director Edward J. Rapp who purchased 1,013 shares for a cost of $98.63 each, for a trade totaling $99,909. Before this latest buy, Rapp made one other purchase in the past year, buying $281,782 shares at a cost of $70.45 a piece. AbbVie Inc is trading off about 0.7% on the day Monday. Investors have the opportunity to pick up ABBV at a price even lower than Rapp did, with the stock changing hands as low as $92.61 at last check today which is 6.1% below Rapp's purchase price.
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