Healthcare Insiders Snap Up Stock

July brings what we sometimes affectionately refer to as the "dog days" of summer. The symptoms are universal: sluggishness and fatigue often bringing about wanderlust for the mountains or the seashore. Taking a look at insider activity of late, it appears that the dog days have also hit insiders, who furthered the Neutral streak in their buying and selling according to a recent update by InsiderScore.

Unflinching, we did an industry drill down to see if any sector has warmed this summer and discovered that the healthcare segment saw a red hot June as insiders snapped up shares.

We took a look at Achillion Pharmaceuticals (ACHN) after two directors bought 40,000 shares for $394,800. Dennis Liotta bought 20,000 shares for $158,100 and Jason Fisherman bought 20,000 shares for $155,000. InsiderScore gave Liotta a nod, writing, "Liotta has been a smart buyer at Achillion in the past. He bought the same number of shares here, this time at a price 28% higher, which is the highest price he has paid for shares."

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Synta Pharmaceuticals (SNTA) also caught our attention after four insiders, including the company's billionaire director Bruce Kovner bought over five million shares for $14.2 million.  He was joined by Co-Founder and CEO Safi Bahcall, who bought 50,000 shares for $213,700.

Sarepta Therapeutics (SRPT) saw its director Anthony Chase buy 10,000 shares for $385,000. Sarepta saw a slight uptick in share price around this time after it announced positive results in a Phase 2b extension study involving the use of eteplirsen as a treatment for patients with Duchenne muscular dystrophy.

InsiderScore notes that in buying, Chase reversed sentiment, as he sold shares last year at a lower rate.  "His move to buy shares here on strength in the stock shows strong conviction as the company once again reports positive data," writes InsiderScore.

Honorable mentions go out to Coronado Biosciences (CNDO), after its CEO Harlan Weisman and Jay Lobell, a longtime director, joined forces and bought 20,000 shares for $152,100; and to Anacor Pharmaceuticals (ANAC) after CFO Geoffrey Parker bought 33,000 shares for $224,300. InsiderScore noted that Parker's purchase was his largest to date and called it a "compelling positive event."

We'll try to keep on beating the summer heat here at Inside Scoop and we'll keep looking for those red hot buys.