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 Tuesday, Satsuma Pharmaceuticals' Director, Ken Takanashi, made a $3.5M buy of STSA, purchasing 233,333 shares at a cost of $15.00 a piece. Takanashi was up about 12.0% on the purchase at the high point of today's trading session, with STSA trading as high as $16.80 in trading on Wednesday. Satsuma Pharmaceuticals is trading off about 0.7% on the day Wednesday. This purchase marks the first one filed by Takanashi in the past year.
And on Friday, Director Michael E. Szymanczyk bought $1.69M worth of Dominion Energy, buying 21,400 shares at a cost of $78.85 each. Dominion Energy is trading up about 1.4% on the day Wednesday. So far Szymanczyk is in the green, up about 1.7% on their buy based on today's trading high of $80.17.
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