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 RBB Bancorp (NASDAQ:RBB), a filing with the SEC revealed that on Wednesday, Director Peter M. Chang purchased 115,000 shares of RBB, at a cost of $20.00 each, for a total investment of $2.3M. RBB Bancorp is trading down about 0.3% on the day Thursday. This buy marks the first one filed by Chang in the past twelve months.
And also on Wednesday, See Remarks Jonathan G. Drachman bought $781,747 worth of Neoleukin Therapeutics (NASDAQ:NLTX), buying 250,000 shares at a cost of $3.13 a piece. Neoleukin Therapeutics is trading up about 4% on the day Thursday. So far Drachman is in the green, up about 11.3% on their purchase based on today's trading high of $3.48.
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