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Stocks: Insiders Buy at Seattle Genetics, Opko Health, and Ion Geophysical

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Plus, purchases at Berkshire Bancorp and Peapack-Gladstone.

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Welcome to our daily roundup of top insider trades. Here's a look at the most significant inside purchases recently filed with the SEC.

Notable Purchases:
  • Felix Baker, a director at biotechnology company Seattle Genetics (NASDAQ:SGEN), bought 407,078 shares of company stock for $16,145,428. The company focuses on the development and commercialization of monoclonal antibody-based therapies for cancer treatment.
  • Phillip Frost, Chairman and CEO of multi-national pharmaceutical and diagnostics company Opko Health (NYSE:OPK), bought 156,000 shares of company stock for $1,365,592.
  • Moses Marx, a director at banking holding company Berkshire Bancorp (OTCMKTS:BERK), bought 60,423 shares of company stock for $438,046.
  • Anthony Consi, a director at bank holding company Peapack-Gladstone (NASDAQ:PGC), bought 16,877 shares of company stock for $286,909.
  • James Lapeyre, a director at technology-focused seismic solutions company Ion Geophysical (NYSE:IO), bought 75,000 shares of company stock for $226,250.
For more insider trades, see the charts below.

Insider Purchases
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
DIR,BO
B
$16,145,428
2
CEO,CB,BO
B
$1,365,592
3
DIR,BO
B
$549,636
4
DIR,BO
B
$438,046
5
DIR
JB*
$286,909
6
DIR
B
$226,250
7
DIR,BO
B
$222,486
8
COO,DIR
B
$220,869
9
DIR
B
$192,503
10
DIR
B
$172,095

Insider Sales
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
CEO,DIR,BO
AS
$17,771,586
2
CB,CEO
S
$8,728,495
3
BO
JS*
$7,848,000
4
BO
S
$6,007,169
5
CEO,DIR,BO
AS
$4,689,264
6
DIR
S
$3,040,834
7
BO
JS*
$2,789,043
8
CEO,DIR
S
$2,022,750
9
DIR,BO
S
$1,882,669
10
DIR
S
$1,739,500

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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