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Filing Details

Accession Number:: 0001055947-12-000006
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2012-11-09 16:52:34
Reporting Period:: 2012-11-07

Filing Date:: 2012-11-09
Accepted Time:: 2012-11-09 16:52:34
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1124105	Targacept Inc	TRGT	Pharmaceutical Preparations (2834)	000000000

Insiders

Cik	Name	Reported Address	Director	Officer	Large Shareholder	Other
918923	P L Fund Value Biotechnology	900 N. Michigan Ave., Suite 1100 Chicago IL 60611	No	No	No	Yes
1055947	P/Il L Partners Bvf	900 N. Michigan Ave., Suite 1100 Chicago IL 60611	No	No	Yes	No
1056807	Bvf Inc/Il	900 N. Michigan Ave., Suite 1100 Chicago IL 60611	No	No	Yes	No
1102444	Biotechnology Value Fund Ii Lp	900 N. Michigan Ave., Suite 1100 Chicago IL 60611	No	No	No	Yes
1233840	N Mark Lampert	900 N. Michigan Ave., Suite 1100 Chicago IL 60611	No	No	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2012-11-07	14,300	$4.08	1,795,927	No	4	P	Indirect	See Explanation of Responses
Common Stock	Acquisiton	2012-11-07	8,800	$4.08	1,034,858	No	4	P	Indirect	See Explanation of Responses
Common Stock	Acquisiton	2012-11-08	31,929	$4.01	1,827,856	No	4	P	Indirect	See Explanation of Responses
Common Stock	Acquisiton	2012-11-08	17,400	$4.01	1,052,258	No	4	P	Indirect	See Explanation of Responses

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Indirect	See Explanation of Responses
No	4	P	Indirect	See Explanation of Responses
No	4	P	Indirect	See Explanation of Responses
No	4	P	Indirect	See Explanation of Responses

Footnotes

This Form 4 is filed jointly by Biotechnology Value Fund, L.P. ("BVF"), Biotechnology Value Fund II, L.P. ("BVF2"), BVF Partners L.P. ("Partners"), BVF Inc., and Mark Lampert (collectively the "Reporting Persons"). Each of the Reporting Persons may be deemed to be a member of a section 13G group that collectively owns more than 10% of the Issuer's oustanding shares of Common Stock. Each of the Reporting Persons disclaims beneficial ownership of the shares of Common Stock reported herein except to the extent of his or its pecuniary interest therein.
Represents shares of Common Stock owned directly by BVF. As the general partner of BVF, Partners may be deemed to beneficially own the shares of Common Stock owned directly by BVF. As the investment adviser and general partner of Partners, BVF Inc., may be deemed to beneficially own the shares of Common Stock owned directly by BVF. As a director and officer of BVF Inc., Mr. Lampert may be deemed to beneficially own the shares of Common Stock owned directly by BVF.
Represents shares of Common Stock owned directly by BVF2. As the general partner of BVF2, Partners may be deemed to beneficially own the shares of Common Stock owned directly by BVF2. As the investment adviser and general partner of Partners, BVF Inc., may be deemed to beneficially own the shares of Common Stock owned directly by BVF2. As a director and officer of BVF Inc., Mr. Lampert may be deemed to beneficially own the shares of Common Stock owned directly by BVF2.
Units may represent aggregation of daily trade activity. Details regarding individual execution amounts and prices are available upon request