Weekly Insider Trading, August 3
Summary
- Esperion - Continued insider purchases following a 50% drop this year.
- Las Vegas Sands - COO taking advantage of quarterly financial volatility?
- Western Alliance Bancorporation - solidly growing bank where officers are buying and the technical picture is good!
- VBI Vaccines - significant CEO purchases but the overall picture is poor.
Weekly Introduction
Even though I have been screening for insider transactions every week since the last article, there has not been enough to go on to write a new article. Some of that is explained by the earnings-quiet season. I did write a blog post but I am not sure how those are advertised, so I removed it as no one seemed to read it. Still, I screened ESPR on July 22 and also sold some other stocks to make room for new screenings I expect coming as earnings season winds down. If you sell today you will probably overall get a better price than I did since the overall market is up.
Unfortunately, our performance in some individual open positions have been hit quite hard recently, fortunately the smaller bets in SOHU, DFRG and CLNE. More concerning has been the underperformance of RV-related stocks; CWH and LCII have been a real drag on the portfolio and of larger position size also. LCII reported Q2 numbers yesterday and the stock jumped more than 10%. I am comfortable with both these stocks going forward and bought more into the decline which is not reflected in the table below. CWH reports Aug 7.
Regarding overall market direction, in the last article I wrote (S&P then at 2700)
We can already see a more positive market. I expect it to continue these 20 days counting from July 1st, and then more selectively in names reporting earnings which will propel some stocks higher. But the overall market risks weakening once again post earnings.”
I am definitely still navigating markets from this narrative, with S&P cash at 2835, I am expecting a sideways to lower drift for August as earnings wind down and markets face a slowing macro picture, tightening CBs and trade war noise. It is really astonishing the shift we will see the coming year from CBs and there is no historical precedent to take cue from. The best bet is to expect more volatility and keep cash at hand to be able to profit from that volatility.
Introduction to Weekly Insider Trading (for new readers)
Weekly Insider Trading from G-stock is the result of quantitative screening of insider trading coupled with qualitative checks to produce a list of companies with the most interesting cues. The screening process starts by looking at number and value of insider trades, if spread across insiders, their historic behavior and the value of current trade in comparison to existing shares owned. This produces a list of the most interesting companies to look at. The next step is to filter based on type of trades and the person trading. Purchases in a new issuance of stock or exercise of options are generally considered of lesser value than an open market purchase. Generally, the more spread across insiders, the better should be the signaling value. Within the insider category, Officers are highest ranked, followed by directors and >10% owners. That said, nothing is binary and continuous purchases of a >10% owner can be very supportive for price just like buybacks are. So to summarize, simply looking at transaction values is not enough. Most of the time, insider transactions need to be put in context, quantitatively and qualitatively, only then can such transactions be of value for portfolio decisions.
Please note that the companies presented and information given should not be interpreted as a full picture view, or some fundamental analysis of the company. I am merely identifying insider trading patterns and looking at some basic info related to those companies, and if available adding analysis done in other articles directly linked to the company, to better score the value of such insider transactions. I strongly encourage everyone to do their own fundamental analysis of each company before investing.
Types of Insider transaction setup (of course any position is contingent on other screening factors as well)
Market opportunistic with positive trend, Insiders increasing holdings in a correction in a stock with general uptrend (here I would buy and hold for some time, 1-6 months) Market opportunistic with no trend, Insiders increasing holdings in a correction in a stock with a sideways trend (here I would buy and sell on a reversal to mean or within 3 months if the stock is not moving) Turnaround bet, Insiders increasing holdings in a stock in a sideways or downwards trend (higher risk, smaller position, event-driven holding, max 6 months, smaller size).
Update of open and closed positions
Previously I have stated that I would not always be recommending an exit point. In some cases, I have done so explicitly with a reasoning, perhaps due to an update of insider selling or other news significantly affecting the case. In other cases, I have just pointed out in a later article that these are the ones I have exited or these are the ones I am now long. I used that history to create the tables below. I will aim to be a bit more formal with this going forward. These tables are prices taken from the charts published/or closing price that day, so they do not account for any entry (or exit) strategies employed, etc.
*For example, the largest drawdown in the table is CLNE, but I clearly stated in the article:
What happened in 2012 and 2015 after the spikes are cause for concerns though, there should be a lot of overhead supply, therefore I would want to see a slight pullback and then ride it for a quick 10-20%.”
I actually bought some CLNE on Tuesday July 10 at 2.8 something.
This article’s insider trading stocks
I have looked at the SEC-reported insider transactions over the last two months (report date). The final list includes companies based on the insider activity rank, which might or might not lead to an immediate action.
Company | Ticker | Insider activity | Longer term insider score | Company Fundamentals | Chart Technicals | Type of Setup | Action |
Esperion | ESPR | + | 0 | - | + | No trend | Buy |
Las Vegas Sands | LVS | + | - | + | - | No trend | Buy |
Western Alliance Bancorporation | WAL | + | - | + | + | Positive trend | Buy |
VBI Vaccines | VBIV | + | - | - | - | - | - |
Esperion (ESPR)
Summary
Esperion is a high risk biotech company which recently has seen positive momentum in the shares following a drop of approximately 50% earlier in the year. The momentum could partly be explained by a new 10% owner continuously buying. There is very little support from other insiders, but I have taken a small position that I will keep with some preconditions stated below.
Basic company Info
Esperion Therapeutics, Inc. is a clinical stage pharmaceutical company, which engages in the development and commercialization of oral therapies for the treatment of patients with elevated low-density lipoprotein cholesterol (LDL-C). It offers Bempedoic acid and Ezetime combination pill as therapies that have been shown to lower elevated LDL-C levels in patients with hypercholesterolemia, including patients inadequately treated with current lipid-modifying therapies.
Industry | Biotechnology | Market cap | 1.2 B | |
Employees | 57 | P/S | - | |
Founded | 2008 | P/E | - | |
Website | P/CF | - |
Insider Trading
Biotech Target NV is based in Willemstad, Curaçao. Coincidence or not, they started buying about the time the stock bottomed, and they seem to buy at regular intervals. As long as I see a monthly purchase I will keep the position. Among other insiders, in most recent time there is only selling.
Name | Insider Type | Trade date | Buy/Sell | Price | Value | Own. Chg |
Biotech Target N V | 10% | 2018-07-12 | Buy | $41.77 | +$2,088,300 | 2% |
Biotech Target N V | 10% | 2018-06-29 | Buy | $39.48 | +$1,973,805 | 2% |
Biotech Target N V | 10% | 2018-06-21 | Buy | $38.57 | +$2,314,224 | 2% |
Biotech Target N V | 10% | 2018-06-07 | Buy | $37.79 | +$2,267,292 | 2% |
Biotech Target N V | 10% | 2018-06-05 | Buy | $38.47 | +$2,308,440 | 2% |
Biotech Target N V | 10% | 2018-05-18 | Buy | $40.11 | +$5,213,770 | 5% |
Newton Roger S | Dir | 2018-03-29 | Sell | $72.37 | -$1,809,277 | -4% |
Vitullo Nicole | Dir | 2018-01-25 | Sell/Option | $71.79 | -$838,076 | -1% |
Vitullo Nicole | Dir | 2017-12-06 | Sell | $53.85 | -$502,205 | 0% |
Janney Daniel | Dir | 2017-03-21 | Sell | $45.80 | -$16,029,263 | -20% |
Goldstein Dov A Md | Dir | 2017-03-21 | Sell | $41.66 | -$33,327,088 | -49% |
Omenn Gilbert S | Dir | 2017-03-21 | Buy | $42.26 | +$42,260 | 10% |
Lalwani Narendra D. | COO | 2016-11-01 | Buy | $9.93 | +$49,650 | New |
McGovern Mark E | Dir | 2016-07-05 | Buy | $10.00 | +$50,000 | New |
Mayleben Timothy M | Pres, CEO | 2016-05-04 | Buy | $14.85 | +$103,950 | 20% |
Omenn Gilbert S | Dir | 2016-03-01 | Buy | $15.28 | +$76,400 | 100% |
Mayleben Timothy M | Pres, CEO | 2016-01-27 | Buy | $15.88 | +$57,168 | 12% |
Mayleben Timothy M | Pres, CEO | 2016-01-15 | Buy | $14.08 | +$101,376 | 30% |
Aisling Capital II LP | 10% | 2015-04-23 | Sell | $108.22 | -$23,534,373 | -5% |
Goldstein Dov A Md | Dir | 2015-04-23 | Sell | $108.22 | -$23,534,373 | -11% |
Enright Patrick G | Dir | 2015-03-19 | Sell | $111.66 | -$55,831,597 | -35% |
Longitude Capital Partners, LLC | 10% | 2014-11-17 | Sell | $32.78 | -$15,966,168 | -25% |
Enright Patrick G | Dir, 10% | 2014-11-17 | Sell | $32.78 | -$15,966,168 | -25% |
Alta Partners Viii, L.P. | 10% | 2014-10-21 | Buy | $20.00 | +$10,000,000 | 24% |
Janney Daniel | Dir, 10% | 2014-10-21 | Buy | $20.00 | +$10,000,000 | 24% |
Omenn Gilbert S | Dir | 2014-10-21 | Buy | $20.00 | +$100,000 | New |
Domain Partners VII L P | 10% | 2014-10-21 | Buy | $20.00 | +$10,000,000 | 24% |
Longitude Capital Partners, LLC | 10% | 2014-10-09 | Sell | $30.00 | -$28,290 | 0% |
Enright Patrick G | Dir, 10% | 2014-10-09 | Sell | $30.00 | -$28,290 | 0% |
Enright Patrick G | Dir, 10% | 2014-10-07 | Sell | $30.04 | -$358,289 | -1% |
Longitude Capital Partners, LLC | 10% | 2014-10-07 | Sell | $30.04 | -$358,289 | -1% |
Chart and technical
I did the screening and purchase of this stock in mid-July following the then reported insider transaction. Since then, the stock has been building strength and seems to be breaking to the upside. I would keep this stock as long as we don’t fall below the 45 entry level and/or if the insider stays away for a whole month. Also I would take profit on a gap fill up towards 65-70.
Fundamentals
Not much to comment on here. The cash position seems challenging to last more than a year without taking on more debt or a secondary offering.
Dec-17 | Dec-16 | Dec-15 | Dec-14 | Dec-13 | Dec-12 | Dec-11 | |
Total Revenues | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
y/y % | |||||||
Gross profit | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Gross margin % | |||||||
EBITDA | -168.7 | -75.9 | -49.8 | -36.1 | -22.7 | -10.1 | -10 |
EBITDA % | |||||||
Net income | -167 | -75 | -50 | -36 | -26 | -12 | -11 |
Cash and equivalents | 35 | 38 | 77 | 85 | 57 | 7 | 0 |
Short term investments | 166 | 173 | 135 | 21 | 4 | 0 | 0 |
Free cash flow | -131 | -48 | -39 | -33 | -18 | -11 | -9 |
Seeking Alpha and other articles
Esperion: Elucidating The Upcoming Clinical Binaries
Take Advantage Of Poor Market Sentiment And Buy Esperion Therapeutics
For Esperion, The Only Trial That Matters Is CLEAR Outcomes Due In 2022
Esperion Aces Third Study, Shows That Safety Issues Were Overblown
Las Vegas Sands (LVS)
Summary
Las Vegas Sands COO Robert Goldstein has made his first purchase in 4 years. Overall, the activity is low among insiders and mostly selling. The fundamentals of the company have been solid long term, with shorter-term volatility in numbers due to big ticket events driving revenues in particular quarters. For this reason, I am prepared to take a bet, also this one smaller, with some preconditions stated below.
Basic company Info
Las Vegas Sands Corp. engages in the development of destination properties. Its properties feature accommodations, gaming, entertainment and retail, convention and exhibition facilities, celebrity chef restaurants, and other amenities. It operates through the following geographic segments: Macao, Singapore, and United States. The Macao segments handle the operations of The Venetian Macao; Sands Cotai Central; The Parisian Macao; The Plaza Macao and Four Seasons Hotel Macao; and Sands Macao. The Singapore segment includes the Marina Bay Sands. The United States segment consists of Las Vegas Operating Properties and Sands Bethlehem
Industry | Resorts and Casinos | Market cap | 54 B | |
Employees | 50k | P/S | 4 | |
Founded | 2004 | P/E | 14 | |
Website | P/CF | 12 |
Insider Trading
Looking at historical transactions, it is mostly about selling. Robert’s purchases in late July was the first purchase in many years by any officer.
Name | Insider Type | Trade date | Buy/Sell | Price | Value | Own. Chg |
Goldstein Robert G | Pres, COO | 2018-07-31 | Buy | $71.13 | +$711,252 | 8% |
Goldstein Robert G | Pres, COO | 2018-03-13 | Sell/Option | $76.00 | -$2,975,780 | -24% |
Jamieson George | Dir | 2017-11-14 | Buy | $66.96 | +$66,961 | 15% |
Goldstein Robert G | Pres, COO | 2016-11-25 | Sell | $62.84 | -$10,627,011 | -57% |
Goldstein Robert G | Pres, COO | 2016-01-04 | Sell | $42.25 | -$4,138,092 | -25% |
Tanasijevich George | Pres, CEO, Marina Bay Sands | 2015-12-31 | Sell/Option | $43.77 | -$277,533 | -20% |
Raphaelson IRA H | EVP, Global GC | 2015-11-02 | Sell/Option | $49.76 | -$436,252 | -26% |
Gerard Steven L | Dir | 2015-10-28 | Buy | $47.95 | +$47,950 | 55% |
Leven Michael A | Dir | 2015-09-18 | Sell | $46.06 | -$967,203 | -4% |
Goldstein Robert G | Pres, COO | 2015-08-06 | Sell/Option | $56.50 | -$8,658,851 | -28% |
Leven Michael A | Dir | 2015-03-25 | Sell | $55.32 | -$995,830 | -3% |
Goldstein Robert G | Pres, COO | 2015-03-19 | Sell/Option | $55.00 | -$5,500,000 | -20% |
Goldstein Robert G | Pres, COO | 2015-02-13 | Sell/Option | $60.65 | -$6,065,385 | -20% |
Leven Michael A | Dir | 2015-01-02 | Sell | $56.10 | -$2,442,101 | -7% |
Raphaelson IRA H | EVP, Global GC | 2014-11-03 | Sell/Option | $62.35 | -$549,589 | -42% |
Chart and technical
LVS has clearly broken the uptrend but is currently resting on horizontal support. I expect it to break below and trade slightly below for some time and then recover to shake out the weak hands currently buying this horizontal support. On the upside, will look for $77-80.
Fundamentals
Even though the revenues have been volatile y/y, LVS seems steady from a fundamental perspective, which makes it a good buy-the-dip candidate (especially in combination with insider purchases). The most recent Q2 report came in below expectations on EPS but above expectations on revenues.
Dec-17 | Dec-16 | Dec-15 | Dec-14 | Dec-13 | Dec-12 | Dec-11 | |
Total Revenues | 12,882 | 11,410 | 11,688 | 14,584 | 13,770 | 11,131 | 9,411 |
y/y % | 12.9% | -2.4% | -19.9% | 5.9% | 23.7% | 18.3% | |
Gross profit | 6746 | 5889 | 5909 | 7229 | 6645 | 5435 | 4885 |
Gross margin % | 52% | 52% | 51% | 50% | 48% | 49% | 52% |
EBITDA | 4,633.00 | 3,604.00 | 3,840.00 | 5,137.00 | 4,426.90 | 3,349.30 | 3,194.50 |
EBITDA % | 36% | 32% | 33% | 35% | 32% | 30% | 34% |
Net income | 2806 | 1670 | 1966 | 2841 | 2306 | 1524 | 1270 |
Cash and equivalents | 2419 | 2128 | 0 | 2179 | 3506 | 3600 | 2513 |
Short term investments | |||||||
Free cash flow | 3706 | 2646 | 1930 | 3654 | 3541 | 1609 | 1154 |
Seeking Alpha and other articles
Las Vegas Sands: I Remain Bullish Despite The Recent Earnings Miss
Las Vegas Sands: Use The 'Bad News' Correction
Western Alliance Bancorporation (WAL)
Summary
A bank with solid long-term growth, historically mostly selling among insiders, but now purchases from two officers, combined with a good technical picture.
Basic company Info
Western Alliance Bancorporation engages in the provision of deposit, lending, treasury management, international banking, and online banking products and services for businesses. It operates through the following business segments: Homeowners Association (HOA) Services, Hotel Franchise Finance (HFF), Public & Nonprofit Finance, Technology & Innovation, Other NBL (National Business Lines), and Corporate & Other.
Industry | Regional – Pacific Banks | Market cap | 6.1 B | |
Employees | 1k | P/S | 6.2 | |
Founded | 1995 | P/E | 16 | |
Website | www.westernalliancebancorporation.com | P/CF P/B | 13 2.6 |
Insider Trading
The latest two transactions are the first purchases by officers since at least 2014, the rest is just massive selling (in to an uptrend). I think this is evidence of some kind of short-term positive view of the stock following a consolidation period.
Name | Insider Type | Trade date | Buy/Sell | Price | Value | Own. Chg |
Gibbons Dale | Vice COB, CFO | 2018-07-27 | Buy | $56.88 | +$119,050 | 1% |
Vecchione Kenneth | CEO | 2018-07-27 | Buy | $56.95 | +$592,264 | 4% |
Snyder Donald D | Dir | 2018-07-23 | Sell | $58.64 | -$263,880 | -4% |
Snyder Donald D | Dir | 2018-06-14 | Sell | $61.48 | -$390,521 | -6% |
McAuslan Robert Reoch | EVP, Chief Credit Officer | 2018-06-06 | Sell | $62.26 | -$186,780 | -11% |
Sohn Sung Won | Dir | 2018-05-04 | Sell | $60.00 | -$150,000 | -7% |
Cady Gerald A | EVP, So. CA Administration | 2018-04-30 | Sell | $60.00 | -$330,000 | -5% |
Sarver Robert Gary | COB, CEO | 2018-03-16 | Sell | $60.72 | -$375,553 | -1% |
McAuslan Robert Reoch | EVP, Chief Credit Officer | 2018-03-09 | Sell | $61.94 | -$123,880 | -7% |
Guedry John | EVP, So. Nevada Administration | 2018-03-06 | Sell | $61.73 | -$606,436 | -20% |
Theisen Randall S | EVP, GC | 2018-03-05 | Sell | $59.14 | -$417,824 | -12% |
Sarver Robert Gary | COB, CEO | 2018-03-02 | Sell | $59.95 | -$4,020,187 | -6% |
McAuslan Robert Reoch | EVP, Chief Credit Officer | 2018-02-16 | Sell | $61.02 | -$122,040 | -9% |
Ardrey J. Kelly Jr. | SVP, Chief Accounting Officer | 2018-02-15 | Sell | $60.30 | -$32,441 | -19% |
Latta Robert P | Dir | 2018-02-01 | Buy | $59.37 | +$1,722 | 0% |
Theisen Randall S | EVP, GC | 2018-01-30 | Sell | $59.00 | -$173,578 | -6% |
McAuslan Robert Reoch | EVP, Chief Credit Officer | 2017-12-15 | Sell | $56.36 | -$169,080 | -11% |
Johnson Marianne Boyd | Dir | 2017-11-16 | Sell | $54.42 | -$217,680 | -1% |
Sarver Robert Gary | COB, CEO | 2017-10-27 | Sell | $56.22 | -$2,811,000 | -5% |
McAuslan Robert Reoch | EVP, Chief Credit Officer | 2017-10-27 | Sell | $56.49 | -$225,960 | -13% |
Snyder Donald D | Dir | 2017-10-25 | Sell | $55.97 | -$223,880 | -4% |
Beach Bruce D | Dir | 2017-10-25 | Sell | $55.89 | -$223,560 | -10% |
Sohn Sung Won | Dir | 2017-10-25 | Sell | $55.89 | -$279,450 | -14% |
Sarver Robert Gary | COB, CEO | 2017-10-23 | Sell | $55.22 | -$5,522,000 | -9% |
Boyd William S | Dir | 2017-10-23 | Sell | $55.55 | -$555,462 | 0% |
Sarver Robert Gary | COB, CEO | 2017-08-16 | Sell | $48.37 | -$4,837,000 | -8% |
Sarver Robert Gary | COB, CEO | 2017-07-24 | Sell | $50.39 | -$3,297,925 | -5% |
Marshall Todd | Dir | 2017-02-13 | Sell | $51.25 | -$1,513,669 | -4% |
Hilton Steven J | Dir | 2017-02-03 | Sell | $50.09 | -$2,489,473 | -39% |
Cady Gerald A | EVP, So. CA Administration | 2017-03-07 | Sell | $51.69 | -$155,070 | -3% |
Theisen Randall S | EVP, GC | 2017-03-03 | Sell | $51.70 | -$349,751 | -12% |
McAuslan Robert Reoch | EVP, Chief Credit Officer | 2017-03-03 | Sell | $51.78 | -$207,120 | -12% |
Taylor Patricia A | EVP, Chief Risk Officer | 2017-03-03 | Sell | $51.80 | -$583,113 | -33% |
Nave James E D V M | Dir | 2016-08-08 | Sell | $35.11 | -$175,550 | -2% |
Boyd William S | Dir | 2016-08-31 | Sell | $38.00 | -$171,000 | 0% |
Boyd William S | Dir | 2016-04-27 | Sell | $37.08 | -$732,327 | 0% |
Nagy M Nafees | Dir | 2017-03-01 | Sell | $53.55 | -$535,500 | -10% |
Peckham John | EVP, Technology, Operations | 2017-03-01 | Sell | $53.19 | -$53,190 | -4% |
Nave James E D V M | Dir | 2017-02-28 | Sell | $51.46 | -$514,600 | -3% |
Wall Merrill | EVP, Chief Admin Officer | 2017-03-01 | Sell | $53.57 | -$1,020,616 | -18% |
Johnson Marianne Boyd | Dir | 2017-02-23 | Sell | $52.10 | -$1,497,927 | -6% |
Johnson Marianne Boyd | Dir | 2017-02-21 | Sell | $52.59 | -$2,737,415 | -10% |
Garner Don | EVP, Arizona Administration | 2017-02-16 | Sell | $53.14 | -$110,478 | -27% |
Guedry John | EVP, So. Nevada Administration | 2017-02-16 | Sell | $53.30 | -$106,600 | -6% |
Nagy M Nafees | Dir | 2017-02-15 | Sell | $53.17 | -$531,700 | -9% |
Mack Cary | Dir | 2017-02-14 | Sell | $52.47 | -$2,780,950 | -27% |
Marshall Todd | Dir | 2017-02-13 | Sell | $51.25 | -$1,513,669 | -4% |
Garner Don | EVP, Arizona Administration | 2017-02-03 | Sell | $50.00 | -$63,850 | -14% |
Chart and technical
WAL has been trading in a clear uptrend for many years. It looks like the consolidation during 2018 is done and WAL should break to the upside soon. I would not wait around here but take a position immediately.
Fundamentals
In the latest quarter, WAL grew revenue by 17%, and net interest income by 30% compared to last year. Longer term, the growth rates also look strong.
Dec-17 | Dec-16 | Dec-15 | Dec-14 | Dec-13 | Dec-12 | Dec-11 | |
Interest Income | 846 | 701 | 525 | 416 | 363 | 318 | 297 |
y/y % | 20.7% | 33.4% | 26.1% | 14.8% | 13.9% | 7.3% | |
Net interest income | 785 | 657 | 493 | 385 | 333 | 290 | 258 |
Gross margin % | 93% | 94% | 94% | 92% | 92% | 91% | 87% |
Net income | 326 | 260 | 194 | 147 | 114 | 69 | 15 |
Cash and equivalents | 417 | 285 | 0 | 225 | 164 | 306 | 205 |
Short term investments | |||||||
Free cash flow | 384 | 281 | 220 | 167 | 165 | 161 | 143 |
Seeking Alpha and other articles
Western Alliance Bancorp: Another Great Quarter And More To Come
VBI Vaccines (VBIV)
Summary
To round things off, VBI Vaccines showed up as a highly significant insider transactions in this week’s screening. The reason is simple, the company is a biotech company where the CEO and quite recently also the CMO have increased their holdings significantly (>5%). Still I would caution against this signal due to lack of signaling value in historical purchases made by the CEO. Also, the technical picture is horrible.
Basic company Info
VBI Vaccines, Inc. is a biopharmaceutical company, which develops vaccines for infectious disease and immuno-oncology. Its pipeline includes Sci-B-Vac, CMV Vaccine, GBM Immunotherapy, MB Immunotherapy, and Zika Vaccine.
Industry | Biotechnology | Market cap | 131 M | |
Employees | 103 | P/S | 165 | |
Founded | 2015 | P/E | - | |
Website | P/CF | - |
Insider Trading
Usually a CEO purchase and Chief Medical Officer would be a highly significant event, but in this case I am cautious. The same insiders have made significant purchases earlier without any positive results when it comes to share price performance.
Name | Insider Type | Trade date | Buy/Sell | Price | Value | Own. Chg |
Baxter Jeff | CEO, Pres | 2018-07-31 | Buy | $2.28 | +$38,237 | 9% |
Baxter Jeff | CEO, Pres | 2018-05-24 | Buy | $2.99 | +$32,890 | 7% |
Diaz-Mitoma Francisco | Chief Medical Officer | 2018-05-11 | Buy | $3.05 | +$30,475 | 3% |
Baxter Jeff | CEO, Pres | 2018-05-11 | Buy | $2.91 | +$20,661 | 5% |
Baxter Jeff | CEO, Pres | 2017-12-12 | Buy | $3.89 | +$38,854 | 7% |
Baxter Jeff | CEO, Pres | 2017-11-28 | Buy | $4.75 | +$71,250 | 12% |
Opko Health, Inc. | 10% | 2017-10-30 | Buy | $3.05 | +$2,000,001 | 11% |
Gillis Steven | Dir | 2017-10-30 | Buy | $3.05 | +$915,000 | 11% |
Chawla Sam | Dir | 2017-10-30 | Buy | $3.05 | +$9,455,000 | 49% |
Perceptive Advisors LLC | 10% | 2017-10-26 | Buy | $3.05 | +$9,455,000 | 50% |
Diaz-Mitoma Francisco | Chief Medical Officer | 2017-08-21 | Buy | $3.17 | +$9,510 | 1% |
Baxter Jeff | CEO, Pres | 2017-08-21 | Buy | $3.22 | +$32,200 | 9% |
Baxter Jeff | CEO, Pres | 2017-08-10 | Buy | $3.28 | +$32,800 | 10% |
Chart and technical
Just a horrible technical picture.
Fundamentals
Second-Quarter 2018 Financial Results
VBI ended the second quarter of 2018 with $41.1 million in cash and cash equivalents compared with $67.7 million as of December 31, 2017. Net cash used in operations for the six months ended June 30, 2018, was $24.5 million.
Dec-17 | Dec-16 | |
Total Revenues | 1 | 1 |
y/y % | 80.0% | -50.0% |
Gross profit | -4 | -3 |
Gross margin % | -478% | -620% |
EBITDA | -36.60 | -24.20 |
EBITDA % | -4067% | -4840% |
Net income | -39 | -23 |
Cash and equivalents | 68 | 32 |
Short term investments | ||
Free cash flow | -32 | -19 |
Seeking Alpha and other articles
Reader Inquiry: VBI Vaccines' CEO Is Buying Shares, Should You?
This article was written by
Analyst’s Disclosure: I am/we are long ESPR. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
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