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Celgene Buys Shares of Acceleron Pharma, and KAR Auction Services Sees Major Sale

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Plus, there were purchases at NuStar GP Holdings and Impac Mortgage Holdings.

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Welcome to our daily roundup of top insider trades. Here's a look at the most significant inside sales and purchases filed with the SEC on Thursday, September 26, 2013.

Notable Purchases:
  • The multinational pharmaceutical company Celgene (NASDAQ:CELG), which develops drugs for treating cancer and immune inflammatory diseases, bought 666,667 shares of clinical stage biopharmaceutical company Acceleron Pharma (NASDAQ:XLRN) for $10,000,005. Acceleron specializes in the discovery, development, and commercialization of protein therapeutics for the treatment of cancer and other rare diseases.
  • William Greehey, a director at petroleum products refining, terminalling, and storage company NuStar GP Holdings (NYSE:NSH), bought 50,000 shares of company stock for $1,027,404.
  • Richard Pickup, a beneficiary owner of Impac Mortgage Holdings (NYSEMKT:IMH), bought 10,000 shares of company stock for $96,968.
Notable Sale:
  • KAR Holdings II LLC, a subsidiary of Goldman Sachs Group (NYSE:GS), sold 13.8 million shares of vehicle auction services provider KAR Auction Services (NYSE:KAR) for $367,424,992.

Insider Purchases
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
BO
JB*
$10,000,005
2
O
B
$2,236,750
3
DIR,BO
B
$1,027,404
4
DIR,BO
B
$524,460
5
CEO,DIR,BO
JB*
$390,000
6
CEO,CB,BO
B
$131,015
7
BO
B
$96,968
8
O
B
$84,858
9
DIR
B
$54,111
10
DIR,BO
B
$44,996

Source: InsiderInsights.com | Key to Insider Title and Trans Type Codes

Insider Sales
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
BO
JS*
$367,424,992
2
BO
JS*
$75,427,144
3
CB,DIR
AS
$65,949,994
4
BO
JS*
$56,427,896
5
PR
JS*
$14,516,000
6
VP
JS*
$7,258,000
7
DIR
S
$6,513,450
8
CEO,DIR,BO
S
$2,541,551
9
CEO,DIR,BO
S
$2,521,540
10
BO
AS
$2,450,000

Source: InsiderInsights.com | Key to Insider Title and Trans Type Codes


An important note from Jonathan Moreland, founder of Insider Insights:

In a victory for common sense, it has been proven profitable -- by both academic studies and (more importantly) the experience of your fellow professional investors -- to monitor the trading behavior of company executives, directors, and large shareholders in the stocks of firms of which they're registered as "insiders."

Please note, however, that the lists above are strictly factual; they are not buy and sell recommendations. Dollar value is only one metric to assess the importance of an insider transaction, and, frankly, often not even the most important metric that determines if an insider transaction is significant.

At InsiderInsights.com, we find new investment ideas just about every day using these and more intricate insider screens to determine where we should focus our subsequent fundamental and technical analysis. And while stocks don't (or shouldn't) move up or down based on insider activity alone, insiders tend to be good indicators of when real stock-moving events like earnings surprises, corporate actions, and new products may be in the offing.

Jonathan Moreland is also the author of "Profit From Legal Insider Trading."
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No positions in stocks mentioned.
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