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 Vermillion, a filing with the SEC revealed that on Friday, Jack W. Schuler purchased 5,000,000 shares of VRML, for a cost of $0.80 each, for a total investment of $4M. Schuler was up about 8.7% on the buy at the high point of today's trading session, with VRML trading as high as $0.87 at last check today. Vermillion is trading up about 2.7% on the day Wednesday.
And also on Friday, CEO Steven M. Paul purchased $230,424 worth of Karuna Therapeutics, purchasing 10,000 shares at a cost of $23.04 each. Karuna Therapeutics is trading up about 0.7% on the day Wednesday. Investors have the opportunity to grab KRTX even cheaper than Paul did, with the stock changing hands as low as $21.61 in trading on Wednesday — that's 6.2% under Paul's purchase price.
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