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, Allogene Therapeutics', Arie Belldegrun, made a $1.95M purchase of ALLO, buying 155,039 shares at a cost of $12.60 a piece. Allogene Therapeutics is trading up about 4.5% on the day Friday.
And at Cincor Pharma, there was insider buying on Tuesday, by Chief Operating Officer Catherine Pearce who purchased 2,250 shares at a cost of $16.00 each, for a total investment of $36,000. This purchase marks the first one filed by Pearce in the past year. Cincor Pharma is trading up about 4% on the day Friday.
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