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Top Insider Trades: Intercept Pharmaceuticals Insiders Buy $20 Million Pursuant to IPO


Meanwhile, Unifi and Fastenal insiders sell.

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

Below are lists of the top 10 mainly open-market insider purchases and sales filed at the Securities and Exchange Commission Tuesday, October 16, 2012 as ranked by dollar value.

Please note, however, that these are factual lists, 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.

The two big insider sales filed on October 16 with the SEC were both non-open market dispositions done outside the price range traded that day. Unifi (NYSE:UFI) officer William Sams sold $19.3 million worth of the stock in the polyester and nylon yarn manufacturer while Fastenal (NASDAQ:FAST) director Robert Kierlin sold $4.5 million of the fastener (bolts, nuts, screws, studs, etc.) manufacturer stock.

FPR Partners and Dai Ichi Life Insurance have continued purchasing ViaSat (NASDAQ:VSAT) and Janus Capital (NYSE:JNS), picking up $7.9 million and $7.1 million of stocks respectively. Meanwhile three Intercept Pharmaceuticals (NASDAQ:ICPT) insiders collectively purchased $20.5 million worth of the development stage biopharmaceutical company pursuant to its initial public offering. Over half the shares in the transaction went to director Srinivas Akkaraju. Mr. Akkaraju, who holds both an MD and a PhD, is on the board of three biopharmaceutical companies. In addition to Intercept, he serves as a director for Seattle Genetics (NASDAQ:SGEN) and Synageva BioPharma (NASDAQ:TRMS)

At, 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.

Source: | Key to Insider Title and Trans Type Codes

Source: | Key to Insider Title and Trans Type Codes

Editor's note: Jonathan Moreland is the founder of Insider Insights and author of "Profit From Legal Insider Trading."
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