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 Corcept Therapeutics, a filing with the SEC revealed that on Friday, Director G. Leonard Baker Jr. bought 150,000 shares of CORT, for a cost of $21.53 each, for a total investment of $3.23M. So far Baker Jr. is in the green, up about 9.1% on their purchase based on today's trading high of $23.48. Corcept Therapeutics is trading up about 6.2% on the day Wednesday. Before this latest buy, Baker Jr. purchased CORT on 8 other occasions during the past twelve months, for a total investment of $1.44M at an average of $15.44 per share.
And at Atara Biotherapeutics, there was insider buying on Monday, by Chief Commercial Officer Kristin Yarema who bought 34,354 shares for a cost of $14.57 each, for a trade totaling $500,370. This purchase marks the first one filed by Yarema in the past year. Atara Biotherapeutics is trading up about 6.8% on the day Wednesday. So far Yarema is in the green, up about 2.7% on their purchase based on today's trading high of $14.96.
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