Replies to post #103419 on Biotech Values

[DewDiligence]

IDIX’s EVP of Biology, David Standring, did an exercise-and-hold in Nov 2009, and the day of his maneuver turned out to be the exact low (#msg-43558137). IDIX is up more than threefold (+224%) since then.

I bought shares of IDIX two days before Standring did (#msg-43392969) and added shortly thereafter (#msg-43797730); Standring’s exercise-and-hold maneuver was a factor in my second purchase.

[DewDiligence]

…an exercise-and-hold-all-shares is a significant signal to the informed investor. If anyone notices any new instances of this in any companies they follow, let us all know!

It happened a few days ago with VRUS:

http://sec.gov/Archives/edgar/data/1032729/000119248210000244/xslF345X03/edgar.xml

[DewDiligence]

…an exercise-and-hold-all-shares is a significant signal to the informed investor. If anyone notices any new instances of this in any companies they follow, let us all know!

It happened again with VRUS (same insider as in #msg-54702232):

http://sec.gov/Archives/edgar/data/1032729/000119248210000277/xslF345X03/edgar.xml

[DewDiligence]

MNTA’s outgoing COO exercised and held 55,730 options today:

http://sec.gov/Archives/edgar/data/1235010/000117911010015423/xslF345X03/edgar.xml

After today’s transaction, Steven Brugger owns approximately 265,000 shares and 190,000 options.

[DewDiligence]

[OT]—Exercise-and-hold by insiders at SLB: #msg-56227316.

[DewDiligence]

James Sulat, MNTA’s Chairman, exercised and held 7,000 shares a few days ago:

http://sec.gov/Archives/edgar/data/1229448/000117911011002876/xslF345X03/edgar.xml

The dollar amount of the holding is relatively small, and other insiders continue to sell under their 10b5-1 plans. Hence, my interpretation of Sulat’s exercise-and-hold transaction is that Sulat wanted to own a few shares outright for cosmetic reasons.

[DewDiligence]

MNTA’s Chairman, James Sulat, exercised and held 3,000 shares two days ago:

http://www.sec.gov/Archives/edgar/data/1229448/000117911011016973/xslF345X03/edgar.xml

[DewDiligence]

INCY’s Chairman exercised and held 65K shares (~$1.1M worth):

http://www.sec.gov/Archives/edgar/data/879169/000118143112004676/xslF345X03/rrd332015.xml

Only 5K of the 65K options exercised were due to expire in the next few months.

[DewDiligence]

On the positive side, an exercise-and-hold-all-shares is a significant signal to the informed investor. If anyone notices any new instances of this in any companies they follow, let us all know!

MNTA’s CFO, Rick Shea, exercised and held 46,728 options (approximately $750K worth) on 6/15/12:

http://www.sec.gov/Archives/edgar/data/1235010/000117911012010540/xslF345X03/edgar.xml

These options were not due to expire until 10/28/13. Please see #msg-76774067 for additional info on Shea’s options holdings.

[DewDiligence]

ENTA’s CFO exercised and held $1.5M worth of stock today:

http://www.sec.gov/Archives/edgar/data/1177648/000090866213000255/xslF345X03/edgar.xml

He may be prohibited from selling by the IPO-lockup provisions, but the exercise-and-hold transaction is still bullish.

[DewDiligence]

On the positive side, an exercise-and-hold-all-shares is a significant signal to the informed investor. If anyone notices any new instances of this in any companies they follow, let us all know!

ENTA’s CSO just did this for the third time in a 12-month period.

The bullish signal from these transactions is attenuated to some degree because the exercise prices were very low and hence the exercised options were mathematically not that different from actual shares. However, even an attenuated signal from an insider is worthy of attention.

[jbog]

Are you saying that Ariad is now a pound on the table buy because Berger has been a recent buyer over the last six months?

I didn't think so.

Personally, Insider transaction mean squat unless Waksal is involved.

[Double_Bagel]

If anyone notices any new instances of this in any companies they follow, let us all know!

I found one that I am pretty excited about. The CEO of HALO exercised 30,000 shares and held 18,081 of them (so she did not hold all). These didn't expire until 2024!

This is in addition to the 50,000 shares she purchased at $8.92 a few months ago. So, she now holds 68,081 shares.

http://openinsider.com/screener?fd=0&fdr=&td=0&tdr=&s=halo&o=&t=&minprice=&maxprice=&v=0&sicMin=&sicMax=&sortcol=0&maxresults=500

http://www.sec.gov/Archives/edgar/data/1159036/000115903615000007/xslF345X03/wf-form4_142059022593881.xml

So, maybe there is something to the rumors today?

[DewDiligence]

MNTA's CSO exercised and held $400K worth of non-expiring options yesterday:

#msg-127768100