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 Friday, Selecta Biosciences (NASDAQ:SELB)'s Director, Amir Nashat, made a $1.75M buy of SELB, purchasing 1,166,666 shares at a cost of $1.50 each. So far Nashat is in the green, up about 11.3% on their buy based on today's trading high of $1.67. Selecta Biosciences is trading up about 1.2% on the day Wednesday.
And on Monday, Director Frank M. Jaehnert purchased $120,425 worth of Briggs & Stratton Corp. (NYSE:BGG), purchasing 10,000 shares at a cost of $12.04 a piece. Before this latest buy, Jaehnert purchased BGG on 2 other occasions during the past twelve months, for a total investment of $156,168 at an average of $15.62 per share. Briggs & Stratton Corp. is trading up about 1.9% on the day Wednesday. So far Jaehnert is in the green, up about 3.6% on their buy based on today's trading high of $12.48.
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