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 Friday, Codiak Biosciences' Director, Steven Gillis, made a $3.53M buy of CDAK, purchasing 235,000 shares at a cost of $15.00 each. Investors have the opportunity to bag CDAK even cheaper than Gillis did, with shares trading as low as $11.68 at last check today which is 22.1% under Gillis's purchase price. Codiak Biosciences is trading up about 3.2% on the day Wednesday.
And on Tuesday, Director Thomas Woiwode bought $3M worth of Aligos Therapeutics, buying 200,000 shares at a cost of $15.00 each. Aligos Therapeutics is trading up about 1.2% on the day Wednesday. Bargain hunters have the opportunity to grab ALGS even cheaper than Woiwode did, with the stock trading as low as $13.20 at last check today which is 12.0% below Woiwode's purchase price.
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