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 Tuesday, AMREP's Director, Edward B. Cloues II, made a $20,000 buy of AXR, purchasing 2,000 shares at a cost of $10.00 each. So far Cloues II is in the green, up about 4.7% on their buy based on today's trading high of $10.47. AMREP is trading up about 3.3% on the day Thursday. Before this latest buy, Cloues II purchased AXR on 3 other occasions during the past year, for a total investment of $39,978 at an average of $6.41 per share.
And at Galectin Therapeutics, there was insider buying on Monday, by Director Kevin D. Freeman who bought 5,000 shares for a cost of $2.04 each, for a total investment of $10,200. Before this latest buy, Freeman made one other buy in the past twelve months, purchasing $12,848 shares for a cost of $2.57 a piece. Galectin Therapeutics is trading up about 4.4% on the day Thursday. Freeman was up about 25.5% on the purchase at the high point of today's trading session, with GALT trading as high as $2.56 in trading on Thursday.
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