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 Arcus Biosciences, a filing with the SEC revealed that on Wednesday, Director Kathryn E. Falberg purchased 20,000 shares of RCUS, at a cost of $28.35 each, for a total investment of $566,996. Falberg was up about 12.1% on the purchase at the high point of today's trading session, with RCUS trading as high as $31.79 in trading on Monday. Arcus Biosciences is trading up about 10.3% on the day Monday.
And also on Wednesday, Director Gary Alan Kiedaisch purchased $149,800 worth of Purple Innovation, purchasing 5,000 shares at a cost of $29.96 a piece. This purchase marks the first one filed by Kiedaisch in the past twelve months. Purple Innovation is trading up about 4.2% on the day Monday. Kiedaisch was up about 9.9% on the buy at the high point of today's trading session, with PRPL trading as high as $32.94 in trading on Monday.
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