Why insider trading matters?

Numerous studies have examined whether there is evidence that U.S. insiders systematically trade on private information despite the legal deterrence. The consensus appears to be that insider purchases (but not sales) tend to be followed by positive abnormal stock price performance, particularly for small growth stocks.

- Prof. B. Espen Eckbo, Dartmouth College
Celldex Therapeutics, Inc. (CLDX)
Sector: Healthcare; Industry: Biotechnology

Celldex Therapeutics, Inc., a biopharmaceutical company, focuses on the development and commercialization of immunotherapies and other cancer-targeting biologics. The company was incorporated in 1983 and is headquartered in Hampton, New Jersey.

Trade Date Insider Title Buy/Sell #Shares Price Value Option
2015-08-25 ELLBERGER LARRY Director Buy 5,000 $14.00 $70,000 No
2015-08-20 ELLBERGER LARRY Director Buy 5,000 $15.00 $75,000 No
2015-08-18 ELLBERGER LARRY Director Buy 5,000 $15.95 $79,747 No
2015-08-13 ELLBERGER LARRY Director Buy 5,000 $16.59 $82,950 No
2013-12-06 ELLBERGER LARRY Director Sell 17,728 $24.50 $434,336 Yes

Insider Smart

Altimmune, Inc. (ALT) - Venrock Healthcare Capital Partners III, L.P., 10%-owner of ALT bought 1.3M shares in late May then added another 1.5M shares in June with an averaged ~$8 per share. 10 days after the accumulation, ALT price jumped to $10.