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Since my December 31, 2012 article titled "3 Stocks With Recent Intensive Insider Buying" the stocks that I featured in the article have performed as follows:

Company Price 12/28 Price 1/8 Change %
AMRS $2.45 $3.54 +44.5%
CFIS $1.06 $1.07 +0.9%
TAT $0.83 $1.00 +20.5%

In this article I will feature three additional stocks that have seen intensive insider buying during the last 30 days. To find these stocks I used the site called "Open Insider" and manually went through the companies.

Intensive insider buying can be defined by the following three criteria:

  1. The stock is purchased by three or more insiders within one month.
  2. The stock is sold by no insiders in the month of intensive purchasing.
  3. At least two purchasers increase their holdings by more than 10 percent.

1. Omeros (NASDAQ:OMER) is a clinical-stage biopharmaceutical company committed to discovering, developing and commercializing products focused on inflammation, coagulopathies and disorders of the central nervous system.


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Insider buys

  • Ray Aspiri purchased 40,000 shares on January 4 and currently controls 202,178 shares or 0.8% of the company. Ray Aspiri has served on the company's Board of Directors since January 1995.
  • Arnold Hanish purchased 2,000 shares on January 3 and currently holds 2,400 shares or less than 0.1% of the company. Arnold Hanish has served on the company's board of directors since September 2012.
  • Peter Demopulos purchased 9,345 shares on January 3 and currently controls 339,449 shares or 1.3% of the company. Peter Demopulos, M.D., FACC, FSCAI has served on the company's board of directors since January 1995.

Financials

The company reported the third-quarter financial results on November 9 with the following highlights:

Revenue $1.4 million
Net loss $13.3 million
Cash $30.6 million
Debt $15.3 million

Upcoming milestones

With positive data from both trials in the OMS302 Phase 3 clinical program, Omeros is targeting submission of a New Drug Application to the U.S. Food and Drug Administration in the first quarter of 2013 and of a Marketing Authorization Application to the European Medicines Agency in mid-2013, with a planned market launch in 2014.

News

On December 27, 2012 Omeros reported results from its first pivotal Phase 3 clinical trial evaluating OMS103HP in patients undergoing arthroscopic partial meniscectomy surgery. In this multicenter, double-blind, Phase 3 clinical trial comparing OMS103HP to vehicle control in 344 subjects, the pre-specified primary endpoint was the Symptoms Subscale of the Knee Injury and Osteoarthritis Outcome Score [KOOS] - a patient-reported measure that is comprised of questions about knee swelling, clicking, catching and stiffness. In addition, pain measured in the early postoperative period was a pre-specified secondary endpoint. Although the Symptoms Subscale of the KOOS did not reach statistical significance, OMS103HP achieved statistically significant (p=0.0003) reduction of postoperative pain. The pain reduction data were similar in magnitude to those in the Phase 2 clinical trial. OMS103HP also demonstrated improvement across a series of pain-related assessments including postoperative narcotic usage (with more than twice as many OMS103HP-treated subjects taking no postoperative narcotics), incidence of inflammatory adverse events, tourniquet use, and crutch use as well as time to discontinuation of crutches and return to work, a number of which also achieved statistical significance. In this study, as in the earlier clinical trials, OMS103HP was well tolerated. Given the strength and consistency of the data in this Phase 3 clinical trial, Omeros' second OMS103HP Phase 3 trial remains on track and will begin in the first half of 2013.

Pipeline

Omeros is developing a deep pipeline of product candidates to treat inflammation, coagulopathies and central nervous system disorders. The company currently has nine programs focused on inflammation, coagulopathies, multiple CNS programs and G protein-coupled receptors in development, all targeting large markets.

My analysis

There have been three insider buy transactions and there have not been any insider sell transactions during the last 30 days. All three of these insider buy transactions were made after the latest phase 3 trial results evaluating OMS103HP. There are seven analyst buy ratings, 0 neutral ratings and 0 sell ratings, with a average target price of $15.14. I believe the stock could be a runup play leading into the OMS302 NDA submission in the first quarter of 2013 and a MAA submission to the EMA in mid-2013, with a planned market launch in 2014. I have a long position in the stock currently.

2. CorEnergy Infrastructure Trust (NYSE:CORR), acquires midstream and downstream U.S. energy infrastructure assets and concurrently enters into long-term triple net leases with energy companies. CorEnergy intends to acquire infrastructure assets that qualify as real property for REIT purposes. The company's principal objective is to provide stockholders with an attractive risk-adjusted total return, with an emphasis on distributions and distribution growth.


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Insider buys

  • John Graham purchased 3,000 shares on January 2 and currently controls 11,165 shares or less than 0.1% of the company. John Graham serves as a director of the company.
  • Charles Heath purchased 724 shares on December 19 and currently controls 5,000 shares or less than 0.1% of the company. Charles Heath serves as a director of the company.
  • Conrad Ciccotello purchased 1,000 shares on December 19 and currently holds 6,293 shares or less than 0.1% of the company. Conrad Ciccotello serves as a director of the company.

Financials

The company reported the third-quarter financial results on October 8 with the following highlights:

Revenue $2.6 million
Net income $5.0 million
Cash $11.8 million
Debt $1.0 million
Quarterly distribution $0.11 per share

The company's Board of Directors has indicated that it intends to approve an increase in quarterly distribution from $0.11 to $0.125 for the first full quarter following the acquisition Liquids Gathering System.

News

On December 18, 2012, CorEnergy announced that it closed its previously announced public offering of common stock, raising $78 million in gross proceeds at $6.00 per share. CorEnergy intends to use the net proceeds of the offering to finance a portion of the previously announced anticipated acquisition of a Liquids Gathering System located in the Pinedale field in Wyoming from a wholly-owned subsidiary of Ultra Petroleum Corp. (NYSE:UPL).

On December 24, 2012, CorEnergy announced that it has closed the sale of an additional 1,950,000 shares of common stock at $6.00 per share, less the underwriting discount. The additional shares were sold pursuant to an over-allotment option granted to the underwriters of CorEnergy's public offering of 13,000,000 shares, which closed on December 18, 2012.

CorEnergy received net proceeds of approximately $11 million for the over-allotment option. Including the public offering and over-allotment, CorEnergy now has 24,140,667 shares outstanding.

My analysis

There have been three insider buy transactions and there have not been any insider sell transactions during the last 30 days. All three of these insider buy transactions were made after the public offering dip. The stock has a 8.1% dividend yield. I have a cautiously bullish bias for the stock currently based on the fundamental picture.

3. Independence Bancshares (OTCQB:IEBS) operates as the holding company for Independence National Bank, which provides banking services to consumers and small-to mid-size businesses principally in Greenville County, South Carolina.

Insider buys

  • Augustus Alexander McLean III purchased 250,000 shares on December 31 pursuant to a public offering. Augustus Alexander McLean III currently controls 260,000 shares or 1.3% of the company. Augustus Alexander McLean III serves as a director of the company.
  • Vivian Wong purchased 125,000 shares on December 31 pursuant to a public offering. Vivian Wong currently holds 179,000 shares or 0.9% of the company. Vivian Wong serves as a director of the company.
  • Roger Walters purchased 93,750 shares on December 31 pursuant to a public offering. Roger Walters currently controls 93,750 shares or 0.5% of the company. Roger Walters serves as a director of the company.
  • Charles Walters purchased 75,000 shares on December 31 pursuant to a public offering. Charles Walters currently holds 100,000 shares or 0.5% of the company. Charles Walters serves as a director of the company.
  • Hasmukh Rama purchased 125,000 shares on December 31 pursuant to a public offering. Hasmukh Rama currently holds 226,500 shares or 1.1% of the company. Hasmukh Rama serves as a director of the company.
  • Sudhirkumar Patel purchased 62,500 shares on December 31 pursuant to a public offering. Sudhirkumar Patel currently holds 88,500 shares or 0.4% of the company. Sudhirkumar Patel serves as a director of the company.
  • Fred Moore purchased 3,125 shares on December 31 pursuant to a public offering. Fred Moore currently holds 4,125 shares or less than 0.1% of the company. Fred Moore is Chief Credit Officer of the company.
  • Lawrence Miller purchased 75,000 shares on December 31 pursuant to a public offering. Lawrence Miller currently holds 87,500 shares or 0.4% of the company. Lawrence Miller is President of the Bank.
  • Neel Hipp purchased 250,000 shares on December 31 pursuant to a public offering. Neel Hipp currently controls 258,000 shares or 1.3% of the company. Neel Hipp serves as a director of the company.
  • Paul Lam purchased 125,000 shares on December 31 pursuant to a public offering. Paul Lam currently controls 125,000 shares or 0.6% of the company. Paul Lam serves as a director of the company.
  • Billy Coleman purchased 200,000 shares on December 31 pursuant to a public offering. Billy Coleman currently controls 251,500 shares or 1.3% of the company. Billy Coleman serves as a director of the company.
  • Schaefer Carpenter purchased 3,125 shares on December 31 pursuant to a public offering. Schaefer Carpenter currently holds 4,125 shares or less than 0.1% of the company. Schaefer Carpenter serves as a director of the company.
  • John Burnett purchased 75,000 shares on December 31 pursuant to a public offering. John Burnett currently holds 115,600 shares or 0.6% of the company. John Burnett serves as a director of the company.

Financials

The company reported the third-quarter financial results on November 7 with the following highlights:

Net loss $0.2 million
Book value & tangible book value $4.04 per share

On December 31, 2012, Independence Bancshares issued 17,648,750 shares of common stock to certain accredited and unaccredited investors, including members of the company's board of directors, for cash proceeds of approximately $14.1 million, at a price of $0.80 per share.

As of December 31, 2012, the company has approximately 19.7 million shares of common stock issued and outstanding.

My analysis

There have been 14 insider buy transactions and there have not been any insider sell transactions during the last 30 days. The stock is trading below the tangible book value of $4.04 per share which could be a good entry point for the stock.

Source: 3 Stocks With Recent Intensive Insider Buying