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, Biohaven Pharmaceutical Holding's , John W. Childs, made a $1.54M purchase of BHVN, buying 25,000 shares at a cost of $61.54 each. Biohaven Pharmaceutical Holding is trading up about 3.9% on the day Thursday.
And at Pacific Mercantile Bancorp, there was insider buying on Tuesday, by James F. Deutsch who purchased 292,500 shares at a cost of $3.50 each, for a total investment of $1.02M. Before this latest buy, Deutsch purchased PMBC on 2 other occasions during the past year, for a total investment of $232,102 at an average of $4.33 per share. Pacific Mercantile Bancorp is trading up about 5.6% on the day Thursday. Deutsch was up about 14.6% on the buy at the high point of today's trading session, with PMBC trading as high as $4.01 in trading on Thursday.
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