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Wednesday 6/23 Insider Buying Report: RPHM, SEAC
Wednesday, June 23, 1:31 PM ET

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 Reneo Pharmaceuticals, a filing with the SEC revealed that on Tuesday, Director Bali Muralidhar purchased 47,274 shares of RPHM, at a cost of $8.94 each, for a total investment of $422,414. So far Muralidhar is in the green, up about 10.3% on their buy based on today's trading high of $9.86. Reneo Pharmaceuticals is trading up about 1.5% on the day Wednesday. Before this latest buy, Muralidhar bought RPHM at 4 other times during the past year, for a total cost of $338,072 at an average of $9.39 per share.

And on Monday, Executive Chairman Robert M. Pons bought $106,000 worth of SeaChange International, buying 100,000 shares at a cost of $1.06 a piece. Before this latest buy, Pons made one other purchase in the past twelve months, buying $104,000 shares at a cost of $1.04 each. SeaChange International is trading up about 9.5% on the day Wednesday. So far Pons is in the green, up about 28.3% on their buy based on today's trading high of $1.36.

For MarketNewsVideo.com, I'm Sayoko Murase.

Wednesday 6/23 Insider Buying Report: RPHM, SEAC picture
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