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 Wednesday, Cue Biopharma's Director, Aaron G.L. Fletcher, made a $186,572 purchase of CUE, buying 7,500 shares at a cost of $24.88 a piece. Cue Biopharma is trading up about 2.1% on the day Friday. This purchase marks the first one filed by Fletcher in the past year.
And at Hersha Hospitality Trust, there was insider buying on Wednesday, by Chief Executive Officer Jay H. Shah who bought 30,000 shares at a cost of $5.75 each, for a trade totaling $172,400. Before this latest buy, Shah bought HT at 20 other times during the past year, for a total cost of $1.65M at an average of $9.78 per share. Hersha Hospitality Trust is trading off about 4% on the day Friday. Bargain hunters have the opportunity to bag HT at a price even lower than Shah did, with the stock changing hands as low as $5.43 at last check today which is 5.5% under Shah's purchase price.
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