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 Allogene Therapeutics (NASDAQ:ALLO), a filing with the SEC revealed that on Monday, Director Owen N. Witte bought 15,000 shares of ALLO, at a cost of $18.00 each, for a total investment of $270,000. So far Witte is in the green, up about 37.7% on their purchase based on today's trading high of $24.79. Allogene Therapeutics is trading off about 2.4% on the day Thursday. This purchase marks the first one filed by Witte in the past twelve months.
And at RPM International (NYSE:RPM), there was insider buying on Monday, by Director John M. Ballbach who bought 3,360 shares at a cost of $59.53 each, for a total investment of $200,018. Before this latest buy, Ballbach made one other purchase in the past twelve months, buying $503,163 shares for a cost of $62.12 a piece. RPM International is trading up about 0.4% on the day Thursday.
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