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 Fulcrum Therapeutics, a filing with the SEC revealed that on Wednesday, Kevin Tang purchased 249,946 shares of FULC, at a cost of $3.56 each, for a total investment of $891,067. Tang was up about 5.9% on the purchase at the high point of today’s trading session, with FULC trading as high as $3.78 in trading on Thursday. Fulcrum Therapeutics is trading up about 1.8% on the day Thursday. This purchase marks the first one filed by Tang in the past twelve months.
And at Blackrock Esg Capital Allocation Term Trust, there was insider buying on Monday, by Richard M. Rieder who bought 35,734 shares at a cost of $15.86 each, for a trade totaling $566,648. This purchase marks the first one filed by Rieder in the past twelve months. Blackrock Esg Capital Allocation Term Trust is trading down about 0.3% on the day Thursday. Bargain hunters are able to snag ECAT at a price even lower than Rieder did, with shares changing hands as low as $15.61 in trading on Thursday — that’s 1.6% under Rieder’s purchase price.
VIDEO: Thursday 7/16 Insider Buying Report: FULC, ECAT
