11:44 INSID Weekly Insider Trading Summary: institutional buying at JAKK and SABA; execs at SIG and CONN selling stock -Update-
This week we've seen notable insider buying in the following stocks: JAKKS Pacific (JAKK) 10% owner Dr. Soon-Shiong bought 858,580 shares at $10.30-10.52 on 4/5-4/9, worth ~$8.9 mln Saba Software (SABA) 10% owner Starboard Value bought 200K shares at $6.89 on 4/9, worth ~$1.4 mln We've seen notable insider selling in the following stocks: CR Bard (BCR) Director ValueAct Capital sold 300K shares at $3.00 on 4/9-4/11, worth ~$30.7 mln Signet Jewelers (SIG) CEO and officers (8) sold a total of 104,297 shares at $65.54-67.90 on 4/5-4/9, worth ~$7.0 mln Conns (CONN) Directors (2) sold a total of 110,738 shares at $42.90-43.83 on 4/9-4/11, worth ~$4.8 mln Calavo Growers (CVGW) CEO sold 94,512 shares at $28.02-29.11 on 4/4-4/9, worth ~$2.7 mln For regular updates on our insider summaries and commentary, please add Briefing ticker INSID to ticker alerts. Transactions exclude pre-arranged trading plans. Sales exclude option-related sell-offs.
11:23 SUMRX Sector Summary: The Healthcare sector (-0.04%) is trading flat today, outperforming the S&P 500 (-0.57%)
General Commentary: BioCryst Pharmaceuticals (BCRX) is seeing strength again today, as concerns involving avian flu continue. The latest reports indicate that thirty eight people have been sickened with the H7N9 flu, with ten deaths. A study in the New England Journal of Medicine says it has traced the origin to three birds. So far there has been no evidence of human to human transmission of the virus, though it has not been ruled out as a possibility. A recent Bloomberg Businessweek article said patients who died in Shanghai were not offered anti-flu drugs, such as Roche's (RHHBY) Tamiflu, which may have helped.
Gainers on news: BioCryst Pharmaceuticals (BCRX +12.66%) Continued strength due to ongoing avian flu concerns Decliners on news: Immunogen (IMGN -8.72%) Trading lower following investor day presentation; co said that there were "tolerability issues" encountered in a Phase 2 trial MannKind (MNKD -7.90%) Mentioned negatively in blog article Gainers on earnings: No notable gainers on earnings
Decliners on earnings: No notable decliners on earnings
Upgrades/Downgrades: Biogen Idec (BIIB +3.35%) Upgraded to Buy from Neutral at BofA/Merrill Air Methods (AIRM +1.88%) Target raised to $53 from $51 at Oppenheimer Meridian Bioscience (VIVO +0.63%) Initiated with a Buy at Sidoti Laboratory Holdings (LH -1.22%) Downgraded to Hold from Buy at WallachBeth, target $97 Rosetta Genomics (ROSG -3.61%) Hearing downgraded to Neutral at Sidoti Abaxis (ABAX -4.50%) Downgraded to Hold from Buy at Stifel
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