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 IGM Biosciences, a filing with the SEC revealed that on Thursday, Director M. Kathleen Behrens bought 30,000 shares of IGMS, at a cost of $60.78 each, for a total investment of $1.82M. So far Behrens is in the green, up about 9.3% on their purchase based on today's trading high of $66.44. IGM Biosciences is trading up about 5.6% on the day Tuesday. Before this latest buy, Behrens bought IGMS on 2 other occasions during the past year, for a total investment of $1.5M at an average of $18.15 per share.
And also on Thursday, Chairman Lawrence E. Golub purchased $1.67M worth of Golub Capital BDC, purchasing 128,300 shares at a cost of $13.01 a piece. Before this latest buy, Golub bought GBDC on 11 other occasions during the past year, for a total cost of $10.44M at an average of $12.73 per share. Golub Capital BDC is trading down about 0.1% on the day Tuesday. So far Golub is in the green, up about 2.7% on their purchase based on today's trading high of $13.36.
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