Tuesday, November 14, 2017 10:15 PM ET
Significant Insider Selling in Shares of Synergy Pharmaceuticals
There was a substantial sale of shares of Synergy Pharmaceuticals by an insider today, as disclosed in a form 4 document filed with the SEC. One insider — Paulson & Co Inc, 10% Owner — sold 8,750,000 shares in the company having a market value of approximately $24,678,500. This is the first insider buy/sell trade in the past 90 days.
Synergy Pharmaceuticals level of buy-sell trading activity is close to the 271 member peer company average. The Bio Therapeutic Drugs peer group saw 326 buy/sell trades during this period for an average of 1.2 transactions per company. However, the number of shares per buy/sell trade transacted by Synergy Pharmaceuticals insiders is higher. Within the peer group there were 31,979,959 shares purchased and 12,334,515 shares sold with company insiders having bought 98,227 shares on average.
In determining significant insider buying and selling, trades reported to the SEC that involve awards, options, exercise of derivative securities, company buy-backs, taxes, gifts, shares acquired via inheritance and tenders or exchange offers have been eliminated in data obtained to evaluate and write this story.
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