Monday, September 18, 2017 10:15 PM ET
Insider Selling at Codexis (CDXS) is Significant
A SEC filing today revealed a notable insider sale of Codexis shares as — Ventures Fund Vii, L.P. Vivo, 10% Owner — disposed of 1,060,000 shares in the company having a market value of approximately $6,121,500. This is the first insider buy/sell trade in the past 90 days.
Codexis level of buy-sell trading activity is close to the 182 member peer company average. The Biotechnology & Medical Research peer group saw 206 buy/sell trades during this period for an average of 1.1 transactions per company. However, the number of shares per buy/sell trade transacted by Codexis insiders is higher. Within the peer group there were 8,012,349 shares purchased and 36,193,720 shares sold with company insiders having sold 136,803 shares on average.
Insider buying and selling activity that is significant has been determined by eliminating all trading activity reported to the SEC that involves awards, options, exercise of derivative securities, company buy-backs, taxes, gifts, shares acquired via inheritance and tenders or exchange offers in creating and writing this story.
Using proprietary Natural Language Generation (NLG) technology, UpTick evaluates corporate insider filings reported to the SEC and creates real-time news and analysis to report the most significant insider transactions based on transaction type, size and historical trends.
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