Biotech Insider Stock Sales: Peer Benchmarks And Guidelines (Forbes)
Over the past six years, the biotech sector has experienced an incredible run of IPOs, reflecting the longest and largest “open window” for new offerings. Much has been written about post-IPO performance here and elsewhere, but there’s been little discussion about equity sales by executive teams following these IPOs. In many ways, it’s a taboo subject, raising questions like “does a CEO who sells some of their stock signal a lack of conviction”? Insider sales/purchases are commonly tracked by public market investors seeking to understand internal sentiment changes.
Wednesday 2/6 Insider Buying Report: WETF, TUP (Nasdaq.com)
Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys. At WisdomTree Investments (WETF), a filing with the SEC revealed that on Monday, Chief Administrative Officer Peter M. Ziemba bought 16,000 shares of WETF, at a cost of $6.07 each, for a total investment of $97,082.
Automatic Data Processing (NASDAQ:ADP) Insider Trading Activity – VP Sold 6,035 shares of Stock (Market Exclusive)
Insider Trading Activity For Automatic Data Processing (NASDAQ:ADP): Douglas W Politi , VP of Automatic Data Processing (NASDAQ:ADP) reportedly Sold 6,035 shares of the company’s stock at an average price of 145.01 for a total transaction amount of $875,135.35 SEC Form. Insider Trading History For Automatic Data Processing (NASDAQ:ADP): On 3/14/2013 Michael C Eberhard, VP, sold 6,756 with an average share price of $65.00 per share and the total transaction amounting to $439,140.00. On 5/9/2013 Edward B Flynn III, VP, sold 3,000 with an average share price of $69.98 per share and the total transaction amounting to $209,940.00.
United States: Past, Present, And Future: Insider Trading’s Personal Benefit Test After Martoma, Gupta, And Other Recent Cases (Mondaq.com)
Introduction: Late last week, former SAC Capital Advisors portfolio manager Mathew Martoma petitioned the Supreme Court to review his 2014 conviction for insider trading. Martoma’s conviction stems from activity in 2008 when he paid a doctor from the University of Michigan for tips about clinical trials of a potential Alzheimer’s medication. Before the results of the clinical trial were announced, Martoma caused SAC Capital to enter into substantial short-sale and options trades that resulted in approximately $275 million in gains and losses avoided. Martoma’s appeal is the latest in a series of insider trading cases, mostly in the Second Circuit, attempting to provide guidance on what type of “personal benefit” an insider or tipper must receive in order for there to have been a breach of duty.
Waters Co. (NYSE:WAT) Insider Trading Activity – SVP Sold 10,800 shares of Stock (Market Exclusive)
Insider Trading Activity For Waters Co. (NYSE:WAT): Elizabeth B Rae , SVP of Waters Co. (NYSE:WAT) reportedly Sold 10,800 shares of the company’s stock at an average price of 232.35 for a total transaction amount of $2,509,380.00 SEC Form. Insider Trading History For Waters Co. (NYSE:WAT): On 5/15/2013 Michael J Berendt, Director, sold 4,000 with an average share price of $98.79 per share and the total transaction amounting to $395,160.00. On 5/28/2013 Arthur G Caputo, EVP, sold 100,000 with an average share price of $99.29 per share and the total transaction amounting to $9,929,000.00.
