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, Beta Bionics' Chief Product Officer, Mike Mensinger, made a $566,950 buy of BBNX, purchasing 33,350 shares at a cost of $17.00 a piece. So far Mensinger is in the green, up about 35.3% on their buy based on today's trading high of $23.00. Beta Bionics is trading off about 3.9% on the day Wednesday. This buy marks the first one filed by Mensinger in the past twelve months.
And at Franklin Financial Services, there was insider buying on Friday, by President Craig W. Best who purchased 7,350 shares at a cost of $33.92 each, for a total investment of $249,312. Franklin Financial Services is trading up about 4.1% on the day Wednesday. So far Best is in the green, up about 6.9% on their purchase based on today's trading high of $36.28.
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