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 Monday, Arch Resources' Director, James N. Chapman, made a $123,100 buy of ARCH, purchasing 1,000 shares at a cost of $123.10 a piece. Arch Resources is trading off about 2.3% on the day Monday. This purchase marks the first one filed by Chapman in the past year.
And on Wednesday, Director Carl Sailer bought $75,001 worth of Acurx Pharmaceuticals, buying 19,737 shares at a cost of $3.80 each. Acurx Pharmaceuticals is trading up about 1.3% on the day Monday. Bargain hunters can grab ACXP even cheaper than Sailer did, with the stock trading as low as $3.58 at last check today -- that's 5.8% below Sailer's purchase price.
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