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In Insider Trading, Achillion Pharmaceuticals Sees a Major Purchase

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Cosi and Mannatech also see buys.

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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 recently filed with the SEC.

Notable Purchases:
  • Boston-based investment adviser Ra Capital Management bought 2,800,000 shares of biopharmaceutical company Achillion Pharmaceuticals (NASDAQ:ACHN) for $8,354,089. Achillion focuses on the discovery, development, and commercialization of treatments for infectious diseases. This purchase was filed with the SEC on the same day -- Monday, September 30 -- as a major sale of company stock by QVT Associates GP LLC.
  • At bank holding company Bridge Bancorp (NASDAQ:BDGE), Director Dennis Suskind and President and CEO Kevin O'Connor both bought 10,000 shares of company stock for $207,500.
  • Robert Toth, a director at global wellness solution provider Mannatech (NASDAQ:MTEX), bought 5,000 shares of company stock for $114,973.
  • The independent investor Lloyd I. Miller III bought 22,134 shares of restaurant franchise company Cosi (NASDAQ:COSI) for $48,916.

For more insider trading, see the charts below.

Insider Purchases
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
BO
B
$8,354,089
2
DIR,BO
B
$526,971
3
DIR
JB*
$207,500
4
PR,CEO,DIR
JB*
$207,500
5
FO,DIR,BO
JB*
$181,248
6
DIR
JB*
$167,500
7
DIR
B
$114,973
8
TT,DIR
B
$75,393
9
BO
B
$48,916
10
VCB,DIR
B
$39,948

Insider Sales
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
BO
JS*
$148,915,200
2
DIR
AS
$9,469,500
3
CB,DIR,BO
S
$5,688,458
4
COO
S
$3,259,572
5
DIR
AS
$1,572,000
6
DIR
S
$1,520,358
7
O
AS
$1,350,194
8
CB,CEO,DIR
AS
$973,587
9
DIR
AS
$943,450
10
DIR
AS
$747,848

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."
No positions in stocks mentioned.
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