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 Clene, a filing with the SEC revealed that on Wednesday, John Henry Stevens bought 47,662 shares of CLNN, for a cost of $3.85 each, for a total investment of $183,499. Clene is trading down about 2.6% on the day Thursday.

And at Cleveland-Cliffs, there was insider buying on Wednesday, by EVP, CFO Celso L. Goncalves Jr. who bought 6,000 shares for a cost of $18.43 each, for a trade totaling $110,579. Before this latest buy, Goncalves Jr. bought CLF at 4 other times during the past year, for a total cost of $408,583 at an average of $21.50 per share. Cleveland-Cliffs is trading off about 0.4% on the day Thursday.