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, MAXIMUS' Director, Raymond B. Ruddy, made a $1.00M purchase of MMS, buying 17,341 shares at a cost of $57.72 a piece. So far Ruddy is in the green, up about 4.1% on their purchase based on today's trading high of $60.08. MAXIMUS is trading up about 4.6% on the day Wednesday.
And at Aura Biosciences, there was insider buying on Monday, by Director David Michael Johnson who bought 50,000 shares at a cost of $14.33 each, for a trade totaling $716,300. This buy marks the first one filed by Johnson in the past twelve months. Aura Biosciences is trading up about 2.3% on the day Wednesday. Investors are able to buy AURA even cheaper than Johnson did, with the stock trading as low as $13.40 in trading on Wednesday which is 6.5% below Johnson's purchase price.
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