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 SenesTech (NASDAQ:SNES), a filing with the SEC revealed that on Tuesday, CEO Kenneth S. Siegel bought 696,296 shares of SNES, at a cost of $1.35 each, for a total investment of $940,000. Siegel was up about 3.7% on the buy at the high point of today's trading session, with SNES trading as high as $1.40 at last check today. SenesTech is trading up about 2.3% on the day Friday. This purchase marks the first one filed by Siegel in the past twelve months.
And on Thursday, Director Leonard Sank purchased $195,711 worth of Oramed Pharmaceuticals (NASDAQ:ORMP), purchasing 54,517 shares at a cost of $3.59 a piece. Before this latest buy, Sank made one other buy in the past year, purchasing $4,250 shares for a cost of $3.22 each. Oramed Pharmaceuticals is trading up about 0.6% on the day Friday. So far Sank is in the green, up about 11.4% on their buy based on today's trading high of $4.00.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.