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.
At Taylor Devices, a filing with the SEC revealed that on Monday, Chief Executive Officer Timothy John Sopko bought 1,000 shares of TAYD, for a cost of $33.25 each, for a total investment of $33,250. So far Sopko is in the green, up about 6.0% on their buy based on today's trading high of $35.25. Taylor Devices is trading up about 5% on the day Wednesday. This purchase marks the first one filed by Sopko in the past twelve months.
And at Anixa Biosciences, there was insider buying on Wednesday, by CFO Michael Catelani who purchased 9,289 shares at a cost of $2.15 each, for a trade totaling $19,971. Before this latest buy, Catelani made one other buy in the past year, purchasing $15,000 shares at a cost of $2.40 a piece. Anixa Biosciences is trading up about 6.8% on the day Wednesday.
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