According to GuruFocus Insider Data, these are the largest CEO buys from the past week.
Sage Therapeutics
Sage Therapeutics Inc. (SAGE, Financial) President and CEO Jeffrey M. Jonas bought 7,500 shares on Dec. 9 at a price of $64.20. The price of the stock has increased by 13.5% since.
Sage Therapeutics is a clinical-stage biopharmaceutical company focused on the study of the nervous system and brain to discover medicines to treat rare life-threatening central nervous system disorders. Sage's lead development program is SAGE-547, a Phase 3 clinical trial for super-refractory status epilepticus. It also has the SAGE-217 program, which is in Phase 2 clinical trial for post-partum depression, essential tremor, Parkinson's disease and major depressive disorder. The company is also developing several other compounds for treatment that are in the early stages of development.
The company has a market cap of $3.8 billion. Its shares traded at $72.87 as of Dec. 13. Net loss was $180.0 million for the third quarter of 2019 compared to a net loss of $122.9 million for the same period in 2018.
Chief Scientific Officer Albert Robichaud bought 25,000 shares on Dec. 9 at a price of $64.16. The price of the stock has increased by 13.58% since.
PacWest Bancorp
PacWest Bancorp (PACW, Financial) CEO and President Matthew P. Wagner bought 6,610 shares on Dec. 11 at a price of $37.78. The price of the stock has increased by 0.85% since.
PacWest Bancorp is a bank holding company with one wholly owned banking subsidiary, Pacific Western Bank. The bank has multiple full-service branches, mostly located throughout California. The bank provides commercial banking services, including real estate, construction and commercial loans and comprehensive deposit and treasury management services, to small and midsize businesses. The bank also offers additional products and services targeting established middle-market and entrepreneurial businesses under the brands of its business groups, CapitalSource and Square 1 Bank, respectively. About a third of the bank's loan portfolio is concentrated in commercial real estate mortgages. The vast majority of the bank's net revenue comes from net interest income.
The company has a market cap of $4.6 billion. Its shares traded at $38.10 with a price-earnings ratio of 9.92 as of Dec. 13. Net interest income was $252.2 million for the third quarter of 2019 compared to $260.3 million for the third quarter of 2018.
Executive Vice President and Chief Operating Officer Mark Yung bought 2,670 shares on Dec. 11 at a price of $37.37. The price of the stock has increased by 1.95% since.
OPKO Health
OPKO Health Inc. (OPK, Financial) CEO, Chairman and 10% Owner Phillip Frost bought 150,000 shares during the past week at an average price of $1.53.
OPKO Health is a diversified biotechnology company that operates pharmaceutical and diagnostic development programs. Its diagnostics business includes a core genetic testing operation. It has a development and commercial supply pharmaceutical company, as well as a global supply-chain operation and holding company in Ireland. It also owns a specialty active pharmaceutical ingredients manufacturer in Israel. The company's bio-reference testing business consists of routine testing and esoteric testing. Routine tests measure various health parameters, such as the functions of the heart, kidney, liver, thyroid and other organs.
The company has a market cap of $1 billion. Its shares traded at $1.56 as of Dec. 13. Net loss for the third quarter was $62.01 million compared to a net loss of $27.66 million last year.
Frost bought 50,000 shares on Dec. 2 at a price of $1.56; 10,286 shares on Dec. 3 at a price of $1.60; 50,000 shares on Dec. 5 at a price of $1.60; 50,000 shares on Dec. 9 at a price of $1.59; and 100,000 shares on Dec. 11 at a price of $1.5. The price of the stock has increased by 4% since.
Corporate Office Properties Trust
Corporate Office Properties Trust (OFC, Financial) President and CEO Stephen E. Budorick bought 3,192 shares during the past week at an average price of $28.19.
Corporate Office Properties Trust, or COPT, is a real estate investment trust that acquires, manages and leases office and data center properties throughout the U.S. The majority of the company's real estate portfolio is composed of office buildings in the Baltimore-Washington Corridor and Northern Virginia area. COPT derives nearly all of its income in the form of rental revenue from tenants. Most of the company's revenue comes from the leasing of properties to U.S. Government agencies and its contractors in the national security, defense and IT sectors, such as Northrop Grumman and Boeing. Regional offices in urban submarkets make also make up a sizable percentage of COPT's total square footage.
The company has a market cap of $3.1 billion. Its shares traded at $27.93 with a price-earnings ratio of 18.76 as of Dec. 13. Net income for the three months ended Sept. 30 was $23.25 million compared to $20.32 million for the prior-year period.
Budorick bought 1,053 shares on Dec. 11 at a price of $28.49; 1,056 shares on Dec. 12 at a price of $28.41; and 1,083 shares on Dec. 13 at a price of $27.69. The price of the stock has increased by 0.87% since.
Bancorp
The Bancorp Inc. (TBBK, Financial) CEO and President Damian Kozlowski bought 4,460 shares on Dec. 6 at a price of $11.45. The price of the stock has increased by 8.12% since.
Bancorp is a Delaware corporation and a registered financial holding company. Its primary subsidiary is a wholly owned subsidiary bank, The Bancorp Bank. The bank is a Delaware chartered commercial bank located in Wilmington, Delaware and is a Federal Deposit Insurance Corporation (FDIC) insured institution. The bank has four primary lines of specialty lending: security backed lines of credit (SBLOC), leasing, Small Business Administration (SBA) loans and loans generated for sale into capital market securitizations. Through the Bank, the company also provides deposit generating banking services, which include prepaid cards, private label banking, institutional banking to investment advisors and card payment and other payment processing.
The company has a market cap of $705 million. Its shares traded at $12.38 with a price-earnings ratio of 12.49 as of Dec. 13. Net income was $20.4 million for the quarter ended Sept. 30, 2019 compared to net income of $61.3 million for the quarter ended Sept. 30, 2018.
Director Stephanie B. Mudick bought 2,000 shares on Nov. 25 at a price of $10.73. The price of the stock has increased by 15.38% since.
Director Daniela Mielke bought 1,800 shares on Nov. 21 at a price of $10.73. The price of the stock has increased by 15.38% since.
Director William H. Lamb bought 10,000 shares on Nov. 20 at a price of $10.84. The price of the stock has increased by 14.21% since.
Chief Operating Officer Joseph Hugh McFadden bought 1,000 shares on Nov. 18 at a price of $10.88. The price of the stock has increased by 13.79% since.
Director Daniel G. Cohen sold 30,000 shares on Nov. 25 at a price of $10.79. The price of the stock has increased by 14.74% since.
For the complete list of stocks bought by their company CEOs, go to: CEO Buys.
Disclosure: I do not own stock in any of the companies mentioned in the article.
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