Although I like SNTA a lot and I am long, I don't think insider buying here means anything. these are randomized trials and results of which cannot be known. I think it's great that they have confidence but in no way means that that means definite efficacy.
No one really "knows" what trials will bring but the fact that they are buying leads me to believe that insiders like the technology, be it done in the lab or in patients.
I also realize that Kovner's buys are mere pocket change for him and despite what the naysayers think, he's not investing for the write off. His accumulation is bullish, plain and simple. Would you say the same if insiders were selling?? That is is meaningless and that they can't know the results??
Listen to the conference call of the results released a few months ago. There were some extremely positive comments made. Paraphrasing, one of the women scientists was calling the trials something like incredible and that the drug worked like nothing she had ever seen before. She could be wrong but her stance is encouraging. We shall see.
I've lived through the roller coaster that is SNTA for over two years. The only company I know of where the insiders buy at every level. Amazing purchase at $7.12. Not like he didn't have any holdings prior. Surprised Bruce hasn't jumped in to buy more. When he bails, I'm out.... not before