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 Selecta Biosciences ( SELB ), a filing with the SEC revealed that on Tuesday, Director Timothy A. Springer purchased 338,791 shares of SELB, at a cost of $17.71 each, for a total investment of $6M. Springer was up about 12.9% on the purchase at the high point of today's trading session, with SELB trading as high as $19.99 at last check today. Selecta Biosciences is trading up about 0.8% on the day Thursday. Before this latest buy, Springer purchased SELB on 2 other occasions during the past year, for a total investment of $232,646 at an average of $14.00 per share.
And on Wednesday, Director Brook Taube bought $1.76M worth of Medley Capital Corporation ( MCC ), buying 276,593 shares at a cost of $6.36 each. Before this latest buy, Taube bought MCC on 34 other occasions during the past twelve months, for a total cost of $50.46M at an average of $6.62 per share. Medley Capital Corporation is trading up about 0.9% on the day Thursday. Taube was up about 1.3% on the buy at the high point of today's trading session, with MCC trading as high as $6.44 at last check today.
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