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 Cassava Sciences, a filing with the SEC revealed that on Friday, Director Sanford Robertson purchased 36,281 shares of SAVA, at a cost of $8.92 each, for a total investment of $323,627. Robertson was up about 20.5% on the buy at the high point of today's trading session, with SAVA trading as high as $10.75 at last check today. Cassava Sciences is trading off about 3% on the day Wednesday. Before this latest buy, Robertson purchased SAVA on 2 other occasions during the past twelve months, for a total cost of $1.07M at an average of $2.15 per share.
And at StepStone Group, there was insider buying on Friday, by Co-Chief Operating Officer Jose A. Fernandez who bought 8,920 shares at a cost of $18.00 each, for a trade totaling $160,560. StepStone Group is trading down about 2% on the day Wednesday. So far Fernandez is in the green, up about 48.2% on their purchase based on today's trading high of $26.67.
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