I noticed about 1 hour ago that the insiders purchased another 500,000 shares in the open market yesterday. Very intriguing. I noticed that most news services are yet to pick up this SEC filing from about 45 minutes ago. Any comments?
I saw those trades going through yesterday and it made me wonder if it was an insider buying up the stock that came out. Sure enough, apparently 500,000 shares were bought by the insiders out of the 900K shares traded yesterday in total. There has always been an old wall street adage that "volume precedes price" and I have observed this one for a while and I just wonder if this means that something very interesting is going on here. I have wondered about this company as it is in a field that I am very familiar with in my professional career. Makes me wonder if Philip Frost, MD the CEO of Teva Pharmaceuticals saw something big when he took approximately 6 million share position in ALQA at 16 cents/share in the spring of this year. Any comments to help would be appreciated.
I am happy to tell you that it was on my brokerage account this morning. I now see that it is listed on Yahoo Finance for ALQA as well as on the company website. I find the 1/2 million shares purchased on the open market yesterday extremely interesting. The insiders seem to have bought about 1+ million shares on the open market in the last month or so approximately between 7-8+ cents/share. I suppose that this indicates more to this company than I had believed!