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 Eyenovia, a filing with the SEC revealed that on Monday, Stuart M. Grant purchased 100,000 shares of EYEN, at a cost of $3.55 each, for a total investment of $355,000. Eyenovia is trading up about 3.1% on the day Tuesday. Before this latest buy, Grant purchased EYEN at 4 other times during the past year, for a total investment of $4.61M at an average of $2.43 per share.
And also on Monday, President Christopher D. Clark bought $137,200 worth of Royce Value Trust, buying 10,000 shares at a cost of $13.72 a piece. Royce Value Trust is trading down about 0.2% on the day Tuesday.
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