Hedge Fund and Insider Trading News: Michael Novogratz, Ray Dalio, Onconova Therapeutics Inc. (ONTX), Cerecor Inc (CERC), Spirit of Texas Bancshares Inc (STXB), L3 Technologies Inc (LLL), and More

Novogratz Teams up with Bloomberg on Crypto Index (Reuters)
NEW YORK (Reuters) – Galaxy Digital Capital Management LP, the cryptocurrency asset management firm founded by former macro hedge fund manager Mike Novogratz, launched an index on Wednesday in cooperation with Bloomberg to track performance of 10 virtual coins, the companies said in a statement. The index, called Bloomberg Galaxy Crypto Index, will track some of the largest virtual currencies trading against the US dollar including bitcoin, ether, monero, ripple and zcash. The index will be owned and administered by Bloomberg. It is weighted based on market capitalization of each coin and uses data sources vetted by the two firms, they said.

Billionaire Ray Dalio Shares a Simple 5-Step Formula for New Graduates (or anyone) to Succeed (CNBC)
When Ray Dalio was 26 years old, he launched a company called Bridgewater Associates from his two-bedroom apartment in New York City. Over decades, it grew to become the world’s largest hedge fund, managing about $160 billion in assets, according to Bridgewater’s website. For today’s 20-somethings and college grads, Dalio, now 68, says he’s perfected a recipe to succeed as he did. In an animated series released Tuesday with condensed advice from Dalio’s 2017 book, “Principles: Life & Work” (which is nearly 600 pages long) the billionaire reveals a simple, five-step process anyone can use to get ahead.

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Cryptocurrency Hedge Funds Rebound in April, Gaining More than 80% (MarketWatch)
Record April for hedge funds: Despite the recent pullback, it’s been a fruitful period for owners of cryptocurrencies. According to Eurekahedge, a research and data providing firm specializing in hedge funds, the Eurekahedge Crypto-Currency Hedge Fund Index gained 83.86% in April, its first positive month of the year.

Insider Buying: Onconova Therapeutics Inc. (ONTX) Major Shareholder Acquires 11,838,235 Shares of Stock (WeekHerald.com)
Onconova Therapeutics Inc. (NASDAQ:ONTX) major shareholder 683 Capital Management, Llc acquired 11,838,235 shares of the business’s stock in a transaction on Friday, April 27th. The stock was bought at an average cost of $0.43 per share, for a total transaction of $5,090,441.05. The purchase was disclosed in a document filed with the Securities & Exchange Commission.

Insider Selling: L3 Technologies (LLL) Chairman Sells 39,515 Shares of Stock (LedgerGazette.com)
L3 Technologies Inc (NYSE:LLL) Chairman Michael T. Strianese sold 39,515 shares of the firm’s stock in a transaction on Monday, April 23rd. The shares were sold at an average price of $214.78, for a total value of $8,487,031.70. The sale was disclosed in a filing with the SEC.