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 Wednesday, Bright Health Group's, Manuel Kadre, made a $959,000 purchase of BHG, buying 100,000 shares at a cost of $9.59 each. Kadre was up about 6.5% on the buy at the high point of today's trading session, with BHG trading as high as $10.21 in trading on Monday. Bright Health Group is trading up about 4.5% on the day Monday. Before this latest buy, Kadre bought BHG at 3 other times during the past twelve months, for a total cost of $692,025 at an average of $8.65 per share.
And at Immunome, there was insider buying on Friday, by Director Michael Rapp who bought 45,950 shares for a cost of $18.07 each, for a trade totaling $830,449. Before this latest buy, Rapp bought IMNM on 3 other occasions during the past twelve months, for a total cost of $2.97M at an average of $15.59 per share. Immunome is trading up about 5.9% on the day Monday. So far Rapp is in the green, up about 10.4% on their purchase based on today's trading high of $19.95.
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