Cohen Steven A/sac Capital Mgmt Lp - Insider Trading Tracker

Achieve Life Sciences, Inc.

US ˙ NasdaqCM ˙ US0044685008

Introduction

This page provides a comprehensive analysis of the known insider trading history of Cohen Steven A/sac Capital Mgmt Lp. Insiders are officers, directors, or significant investors in a company. It is illegal for insiders to make trades in their companies based on specific, non-public information. This does not mean it is illegal for them to make any trades in their own companies. However, they must report all trades to the SEC via a Form 4. Despite these restrictions, academic research suggests that insiders - in general - tend to outperform the market in their own companies.

Average Trade Profitability

The average trade profitability is the average return of all the open market purchases made by the insider in the last three years. To calculate this, we examine every open-market, unplanned purchase made by the insider, excluding all trades that were marked as part of a 10b5-1 trading plan. We then calculate the average performance of those trades over 3, 6, and 12 months, averaging each of those durations to generate a final performance metric for each trade. Finally, we average all of the performance metrics to calculate a performance metric for the insider. This list only includes insiders that have made at least three trades in the last two years.

If this insiders trade profitability is "N/A", then the insider either has not made any open-market purchases in the last three years, or the trades they’ve made are too recent to calculate a reliable performance metric.

Update Frequency: Daily

See the list of most profitable insider traders.

See Highest Ranking Insiders

Companies with Reported Insider Positions

The SEC filings indicate Cohen Steven A/sac Capital Mgmt Lp has reported holdings or trades in the following companies:

Security	Title	Latest Reported Holdings
US:ACAC / Acri Capital Acquisition Corporation	10% Owner	405,508
US:TMPO / Tempo Automation Holdings Inc - Class A	10% Owner	5,351,000
US:KINZ / KINS Technology Group Inc - Class A	10% Owner	235,966
US:LAUR / Laureate Education, Inc.	10% Owner	0
US:RXDX / Prometheus Biosciences Inc		0
US:VRDN / Viridian Therapeutics, Inc.	10% Owner	426,162
US:BBW / Build-A-Bear Workshop, Inc.	10% Owner	933,825
US:MODL / Victory Portfolios II - VictoryShares WestEnd U.S. Sector ETF	Director, 10% Owner	0
US:USAT / Cantaloupe Inc	10% Owner	1,949,426
US:TTWO / Take-Two Interactive Software, Inc.		5,701,610
US:USO / United States Oil Fund, LP - Limited Partnership	10% Owner	100,000
US:867652AE9 / SunPower Corp. Bond	10% Owner	519,100
US:ACHV / Achieve Life Sciences, Inc.	10% Owner	1,419,752

How to Interpret the Charts

The following charts show the stock performance of securities subsequent to each open-market, non-planned trade made by Cohen Steven A/sac Capital Mgmt Lp. Non-planned trade are trades that were not made as part of a 10b5-1 trading plan. The stock performance is charted as cumulative percent change in share price. For example, if an insider trade was made on January 1, 2019, the chart will show the daily percent change of the security to the present day. If the share price were to go from $10 to $15 during this time, the cumulative percent change in share price would be 50%. A change in price from $10 to $20 would be 100%, and a change in price of $10 to $5 would be -50%.

Ultimately, we are trying to determine how closely the insider’s trades correlate to excess returns (positive or negative) in the share price in order to see if the insider is timing their trades to profit from insider information. Consider the situation where an insider was doing this. In this situation, we would expect either (a) positive returns after purchases, or (b) negative returns after sales. In the case of (a), the PURCHASE chart would show a series of upwardly sloping curves, indicating positive returns after each purchase transaction. In the case of (b), the SALE chart would show a series of downward sloping curves, indicating negative returns after each sale transaction.

However, this alone is not enough to draw conclusions. If, for example, the share price of the company was in a non-cyclical climb over many years, then we would expect all the post-purchase plots to be upwardly sloping. Likewise, non-cyclical declines over many years would result in downward sloping post-trade plots. Neither of these charts would suggest insider trading activity.

The strongest indicator would be a situation where the share price was extremely cyclical, and there were both positive signals in the PURCHASE chart and negative plots on the SALE chart. This situation would be highly suggestive of an insider that was timing trades to their financial advantage.

Insider Purchases ACHV / Achieve Life Sciences, Inc. - Short Term Profit Analysis

In this section, we analyze the profitability of every unplanned, open-market insider purchase made in ACHV / Achieve Life Sciences, Inc.. This analysis helps to understand if the insider consistently generates abnormal returns, and is worth following. This analysis is for one-year following each trade, and the results are theoretical.

The following table shows the most recent open market purchases that were not part of an automatic trading plan.

Trade Date	Ticker	Insider	Reported Shares	Reported Price	Adjusted Shares	Adjusted Price	Cost Basis	Days to Max	Price at Max	Max Profit ($)	Max Return (%)
2004-02-19	954343413	COHEN STEVEN A/SAC CAPITAL MGMT LP	150,000	8.5581	10,976	116.9607	1,283,715	731