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 Cortexyme, a filing with the SEC revealed that on Tuesday, Director David Lamond purchased 44,648 shares of CRTX, at a cost of $55.35 each, for a total investment of $2.47M. So far Lamond is in the green, up about 6.5% on their purchase based on today's trading high of $58.94. Cortexyme is trading up about 4.1% on the day Wednesday.
And at Carrier Global, there was insider buying on Monday, by CEO David L. Gitlin who bought 57,580 shares at a cost of $17.45 each, for a trade totaling $1.00M. This purchase marks the first one filed by Gitlin in the past year. Carrier Global is trading up about 6.4% on the day Wednesday. Gitlin was up about 9.2% on the buy at the high point of today's trading session, with CARR trading as high as $19.05 at last check today.
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