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 Enovis, a filing with the SEC revealed that on Friday, Chief Executive Officer Damien McDonald purchased 13,035 shares of ENOV, at a cost of $19.15 each, for a total investment of $249,620. Enovis is trading up about 3.2% on the day Tuesday. Before this latest buy, McDonald made one other buy in the past year, purchasing $199,973 shares for a cost of $30.97 each.
And on Thursday, David P. Hochman bought $47,900 worth of Orchestra BioMed Holdings, buying 10,000 shares at a cost of $4.79 each. Before this latest buy, Hochman purchased OBIO on 3 other occasions during the past twelve months, for a total investment of $82,100 at an average of $4.11 per share. Orchestra BioMed Holdings is trading up about 2.9% on the day Tuesday. So far Hochman is in the green, up about 9.6% on their buy based on today's trading high of $5.25.
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