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 Alumis, a filing with the SEC revealed that on Thursday, Srinivas Akkaraju purchased 276,179 shares of ALMS, for a cost of $5.25 each, for a total investment of $1.45M. So far Akkaraju is in the green, up about 20.0% on their buy based on today’s trading high of $6.30. Alumis is trading up about 8.6% on the day Tuesday. Before this latest buy, Akkaraju made one other purchase in the past year, buying $1.48M shares for a cost of $4.61 a piece.
And also on Thursday, Chief Financial Officer Robb A. Lemasters bought $1.01M worth of Lineage, buying 30,000 shares at a cost of $33.74 a piece. Lineage is trading up about 1.1% on the day Tuesday.
VIDEO: Tuesday 11/18 Insider Buying Report: ALMS, LINE
