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 Friday, ChromaDex's Cheif Executive Officer, Robert N. Fried, made a $100,000 purchase of CDXC, buying 80,000 shares at a cost of $1.25 each. So far Fried is in the green, up about 15.9% on their purchase based on today's trading high of $1.45. ChromaDex Corp is trading up about 6.4% on the day Tuesday. Before this latest buy, Fried made one other buy in the past twelve months, purchasing $54,000 shares at a cost of $2.16 a piece.
And on Thursday, Eric Shahinian purchased $76,299 worth of Pasithea Therapeutics, purchasing 64,357 shares at a cost of $1.19 each. Before this latest buy, Shahinian bought KTTA on 2 other occasions during the past twelve months, for a total cost of $214,576 at an average of $1.20 per share. Pasithea Therapeutics is trading off about 5.4% on the day Tuesday. So far Shahinian is in the green, up about 12.2% on their purchase based on today's trading high of $1.33.
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