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 Monday, Better Therapeutics (BTTX)'s Frank Karbe, made a $200,000 purchase of BTTX, buying 242,424 shares at a cost of $0.82 a piece. Karbe was up about 81.8% on the purchase at the high point of today's trading session, with BTTX trading as high as $1.50 at last check today. Better Therapeutics is trading up about 4.8% on the day Thursday. Before this latest buy, Karbe made one other buy in the past year, purchasing $104,695 shares for a cost of $2.09 each.
And on Wednesday, Chief Executive Officer Scott Dunseth Myers bought $101,479 worth of Viridian Therapeutics (VRDN), buying 4,000 shares at a cost of $25.37 a piece. Before this latest buy, Myers made one other buy in the past year, purchasing $160,324 shares for a cost of $29.15 each. Viridian Therapeutics is trading up about 6.1% on the day Thursday. So far Myers is in the green, up about 6.1% on their buy based on today's trading high of $26.91.
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