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, Clene's , David J. Matlin, made a $400,002 buy of CLNN, purchasing 132,891 shares at a cost of $3.01 a piece. Matlin was up about 5.0% on the purchase at the high point of today's trading session, with CLNN trading as high as $3.16 at last check today. Clene is trading up about 0.7% on the day Thursday. Before this latest buy, Matlin bought CLNN on 6 other occasions during the past year, for a total investment of $2.93M at an average of $6.08 per share.
And at Inozyme Pharma, there was insider buying on Tuesday, by SVP, COO Henric Bjorn Bjarke who purchased 27,100 shares at a cost of $3.69 each, for a total investment of $99,999. Inozyme Pharma is trading up about 18.4% on the day Thursday. So far Bjarke is in the green, up about 47.4% on their buy based on today's trading high of $5.44.
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