Synta Pharmaceuticals, Inc. (NASDAQ: SNTA) CEO Safi R. Bahcall disclosed the purchase of 10,000 shares on 6/6 at $4.40. The insider buy follows the major sell-off in the stock post ASCO. In addition to buying by the CEO, Director and larger shareholder Bruce Kovner recently disclosed the purchase of 2 million shares.
Bahcall has had a pretty good track record on insider buying timing.
Great! They have to find a way to break through this down cycle. I bought a lot today as I think today is the fourth day of down trend and stock has been down more than 55%. It's ridiculous to see fund dump it today with 2 milliom. Meanwhile, I think we should be see a turn around tommorrow.