2/13/07 Major Antigenetics (AGEN) Insider Buy
Garo H Armen, CEO and Chairman of the Board bought 50,000 shares today to increase his direct holdings to 106,601 shares.
Indirectly, Mr. Armen holds 11,489,274 shares:
Last week I saw Dr. Dean Edel on TV interview a cancer patient who took Antigenetics' drug for a cancer that should have killed her by now. She seemed to be in remission or at least still alive. The story reported others in the study were getting "an immune response" from I believe they said "all others tested in the study." This story made me wonder if this was "news" that was not announced to shareholders yet since it was a SF Evening news story about the good work being done at USF. I made a mental note to watch this stock for an insider buy on this sort of news.
Ding
Click the SEC Document showing this purchase of 50,000 shares for $96,500 to bring his total to 106,610 shares.
- The filing states: 1. Dr. Armen is CEO, Chairman of the Board of Managers and member of Antigenics Holdings ("Holdings") which, as of the date of this report, owns 11,154,274 shares of Antigenics Inc. common stock. Dr. Armen has a pecuniary interest in only a portion ofthe shares held by Holdings and disclaims their beneficial ownership except to the extent of his pecuniary interest therein. Dr. Armen is also General Partner of Armen Partners, LP. Armen Partners, LP owns a total of 335,000 shares of Antigenics common stock. Dr. Armen has a pecuniary interest in only a portion of the shares held by Armen Partners, LP and disclaims their beneficial ownership except to the extent of his pecuniary interest.
Insider purchases are rare. Usually insiders sell after they exercise options. An officer at Intel registered a major stock purchase with the SEC today.
I get these insider reports from a private source. It is from a computer program that monitors the SEC for announcements of insider buying and selling. Now and then, I get a real gem like this announcement that an insider from Antigenetics (AGEN) is buying.
Details:
OFCR/ CEO & Chair o/ Board = Classification of Insider
$96k = Value of I-Buy trade(s)
50k = Number of Shares
$1.93 = Average Price Paid
$1.91 = Recent Stock Price (delayed)
132k = Average Daily Volume (composite timeframe)
$88M = Company Market Capitalization
2007-02-09 = Purchase Date
2007-02-13 = Filing Date
13:21:59 = SEC Arrival TimeStamp
The Insider Roster at Yahoo shows Garo H Armen owned 51,610 shares before today's filing.
Disclaimers:
1. I own AGEN in my personal portfolio and bought 1,000 shares here on this news.
2. I may trade the ups and downs of AGEN in either or both my personal and my newsletter explore portfolios without announcing it here or anywhere else.
3. Answers & my words are general in nature, are not meant as specific investment advice, and do not necessarily represent the opinion of anyone but Kirk. Individuals should consult with their own advisors for specific investment advice.
Kirk Lindstrom:
Kirk Lindstrom - With my writing, I hope to help you too reach AND MAINTAIN critical mass where your investments earn enough money that you don't have to ...
