Ayala Pharmaceuticals Inc (ADXS)

[glbeaty]

Can anyone shed some light on what is going on with management's monthly share purchases? Every month the NASDAQ reports activity like this:

http://www.nasdaq.com/symbol/adxs/insider-trades

Name Date Type # traded PPS Shares held
O'CONNOR DANIEL 07/29/2016 Acquisition (Non Open Market) 1,133 8.3400 310,903
O'CONNOR DANIEL 07/29/2016 Disposition (Non Open Market) 562 8.3400 310,341
O'CONNOR DANIEL 08/31/2016 Acquisition (Non Open Market) 328 11.5300 302,402
O'CONNOR DANIEL 08/31/2016 Disposition (Non Open Market) 46 11.5300 302,356
O'CONNOR DANIEL 09/30/2016 Acquisition (Non Open Market) 354 10.6900 302,710
O'CONNOR DANIEL 09/30/2016 Disposition (Non Open Market) 50 10.6900 302,660

Why does the management team always sell and buy shares? Why sell 562 and buy 1,133 instead of just buying 571? Could this be some quirk of whatever internal market they use to trade shares among themselves?

How has Dan's shares held decreased, despite a net purchase of shares? As far as I can tell, he hasn't done any net sales of shares since May.

Overall the insider trading still looks positive. Some directors sold after the Amgen deal spike, which is understandable, but none have sold since $14.85.