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Saturday, September 15, 2007

Insider Buying at AGEN by Chairman and CEO Garo H. Armen

On Feb 9, 2007 Garo H. Armen, CEO and Chairman of the Board, bought 50,000 shares to increase his direct holdings to 106,601 shares. I wrote about it and my buy on the news here. The stock soared shortly after this purchase and has recoverd to a seven month gain of 27% trading at $2.45. Details:

  • OFCR/ CEO & Chair o/ Board = Classification of Insider
  • $96k = Value of I-Buy trade(s)
  • 50k = Number of Shares
  • $1.93 = Average Price Paid
  • $1.91 = Recent Stock Price (delayed)
  • 132k = Average Daily Volume (composite timeframe)
  • $88M = Company Market Capitalization
  • 2007-02-09 = Purchase Date
  • 2007-02-13 = Filing Date
  • 13:21:59 = SEC Arrival TimeStamp

More AGEN Charts

Yesterday, September 14, 2007, Garo H. Armen bought another 50,000 shares of AGEN at an average price of $2.33. Details:

  • OFCR/ Chair & CEO = Classification of Insider
  • $117k = Value of I-Buy trade(s)
  • 50k = Number of Shares
  • 2.33 = Average Price Paid
  • 2.45 = Recent Stock Price (delayed)
  • 315k = Average Daily Volume (composite timeframe)
  • 112M = Company Market Capitalization
  • 2007-09-14 = Purchase Date
  • 2007-09-14 = Filing Date
  • 17:31:46 = SEC Arrival TimeStamp (Filing appears on SEC site 30-60 secs later)

SEC Form 4 shows Armen how holds 266,610 shares of common stock directly and holds another 11,489,274 via By Antigenics Holdings LLC and Armen Partners LP ( 3 ).

The last insider buy in Feb was a good time to buy as the stock soared from $1.93 to about $5.25 two months later. Even if you didn't sell at the top and held, a 27% gain in seven months is nice.

Disclaimers:
  1. I first reported this purchase here on Feb 13, 2007.
  2. I own AGEN in my personal portfolio and bought 1,000 shares on the Feb 9, 2007 news.
  3. I may trade the ups and downs of AGEN in either or both my personal and my newsletter explore portfolios without announcing it here or anywhere else.
  4. Dr. Armen is CEO, Chairman of the Board of Managers and a member of Antigenics Holdings LLC ("Holdings") which, as of the date of this report, owns 11,154,274 shares of Antigenics Inc. common stock. Dr. Armen has a pecuniary interest in only a portion of the shares held by Holdings and disclaims beneficial ownership except to the extent of his pecuniary interest therein. Dr. Armen is also General Partner of Armen Partners LP. Armen Partners LP owns a total of 335,000 shares of Antigenics Inc. common stock. Dr. Armen has a pecuniary interest in only a portion of the shares held by Armen Partners LP and disclaims beneficial ownership except to the extent of his pecuniary interest therein.

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