Biotech Values

[Summer2762]

Re: ENTA. How long does an executive have to report a sale?

Does anyone know if the following statement is correct?

"by selling within a month an executive need only file one report of trades with the SEC" **

Incidentally, that paper agrees with the sentiment that this is a bullish sign.

About 30 percent of option exercises are followed by no share sales within thirty days. Partitioning the option exercises on whether the shares are sold within thirty days, “keep-all” if no shares are sold and “sell-all” if all shares are sold, we found strong evidence that the keep-all sub-sample is associated with positive private information, and weaker evidence that the sell-all sub-sample is associated with negative private information.

** http://www.anderson.ucla.edu/faculty/david.aboody/AbHuLiSu.pdf