Enzon Pharmaceuticals, Inc.
US ˙ OTCPK ˙ US2939041081

Introduction

This page provides a comprehensive analysis of the known insider trading history of Michael Cooper Pearce. 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

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Companies with Reported Insider Positions

The SEC filings indicate Michael Cooper Pearce has reported holdings or trades in the following companies:

Security Title Latest Reported Holdings
US: / JOURNEY MEDICAL CORP Director 57,173
US:ENZN / Enzon Pharmaceuticals, Inc. 1,590,194
US:PTX / Pernix Therapeutics Holdings, Inc. President and CEO, Director 250,000
How to Interpret the Charts

The following charts show the stock performance of securities subsequent to each open-market, non-planned trade made by Michael Cooper Pearce. 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 ENZN / Enzon Pharmaceuticals, Inc. - Short Term Profit Analysis

In this section, we analyze the profitability of every unplanned, open-market insider purchase made in ENZN / Enzon Pharmaceuticals, 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 (%)
2020-08-05 ENZN COUCHMAN JONATHAN 506,292 0.2000 506,292 0.2000 101,258 187 0.8350 321,496 317.50

Adjusted Price is the split-adjusted price. Adjusted Shares is the split-adjusted shares.

ENZN / Enzon Pharmaceuticals, Inc. Insider Trades
Insider Sales ENZN / Enzon Pharmaceuticals, Inc. - Short Term Loss Analysis

In this section, we analyze the short-term loss avoidance of every unplanned, open-market insider sale made in ENZN / Enzon Pharmaceuticals, Inc.. A consistent pattern of loss avoidance may suggest that future sale transactions may predict declines in price. This analysis is for one-year following each trade, and the results are theoretical.

The following table shows the most recent open market sales 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
Min		 Price at
Min		 Max Loss
Avoided ($)		 Max Loss
Avoided (%)
2020-08-25 ENZN COUCHMAN JONATHAN 25,000 0.1913 25,000 0.1913 4,782 76 0.1450 -1,157 -24.19
2020-08-24 ENZN COUCHMAN JONATHAN 52,100 0.1834 52,100 0.1834 9,555

Adjusted Price is the split-adjusted price. Adjusted Shares is the split-adjusted shares.

ENZN / Enzon Pharmaceuticals, Inc. Insider Trades
Insider Trading History

This table shows the complete list of insider trades made by Michael Cooper Pearce as disclosed to the Securities Exchange Commission (SEC).

File Date Tran Date Form Ticker Security Code 10b5-1 Shares Remaining Shares Percent
Change		 Share
Price		 Tran
Value		 Remaining
Value
2025-08-07 2025-08-05 4 DERM Journey Medical Corp
Common Stock, $0.0001 par value 		A - Award 20,000 57,173 53.80
2025-07-07 2025-06-25 4 DERM Journey Medical Corp
Common Stock, $0.0001 par value 		A - Award 7,173 37,173 23.91
2024-07-23 2024-07-19 4 DERM Journey Medical Corp
Common Stock, $0.0001 par value 		A - Award 30,000 30,000
2020-08-26 2020-08-25 4 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, $0.01 par value 		S - Sale -25,000 1,590,194 -1.55 0.19 -4,782 304,204
2020-08-26 2020-08-24 4 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, $0.01 par value 		S - Sale -52,100 1,615,194 -3.12 0.18 -9,555 296,227
2020-08-06 2020-08-05 4 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, $0.01 par value 		P - Purchase 506,292 2,100,524 31.76 0.20 101,258 420,105
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		14,236,414
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		9,918,748
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		11,619,272
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		10,152,012
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		11,186,042
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		9,518,748
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		14,236,414
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		9,918,748
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		11,619,272
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		10,152,012
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		11,186,042
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		9,518,748
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		14,236,414
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		9,918,748
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		11,619,272
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		10,152,012
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		11,186,042
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		9,518,748
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		14,236,414
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		9,918,748
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		11,619,272
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		10,152,012
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		11,186,042
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		9,518,748
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		14,236,414
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		9,918,748
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		11,619,272
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		10,152,012
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		11,186,042
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		9,518,748
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		14,236,414
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		9,918,748
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		11,619,272
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		10,152,012
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		11,186,042
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		9,518,748
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		14,236,414
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		9,918,748
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		11,619,272
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		10,152,012
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		11,186,042
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		9,518,748
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		14,236,414
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		9,918,748
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		11,619,272
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		10,152,012
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		11,186,042
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		9,518,748
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		14,236,414
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		9,918,748
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		11,619,272
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		10,152,012
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		11,186,042
2020-08-06 3 ENZN ENZON PHARMACEUTICALS, INC.
Common Stock, par value $0.01 per share 		9,518,748
2013-05-13 2013-05-10 4 PTX PERNIX THERAPEUTICS HOLDINGS, INC.
Options (right to buy) 		A - Award 250,000 250,000
2013-05-13 2013-05-10 4 PTX PERNIX THERAPEUTICS HOLDINGS, INC.
Common Stock 		A - Award 250,000 286,667 681.81
2012-11-29 2012-11-28 4 PTX PERNIX THERAPEUTICS HOLDINGS, INC.
Employee Stock Option (Right to Buy) 		M - Exercise -8,843 0 -100.00
2012-11-29 2012-11-28 4 PTX PERNIX THERAPEUTICS HOLDINGS, INC.
Common Stock 		S - Sale X -8,843 36,667 -19.43 7.00 -61,901 256,669
2012-11-29 2012-11-28 4 PTX PERNIX THERAPEUTICS HOLDINGS, INC.
Common Stock 		M - Exercise 8,843 45,510 24.12 4.20 37,141 191,142
2012-11-29 2012-11-27 4 PTX PERNIX THERAPEUTICS HOLDINGS, INC.
Employee Stock Option (Right to Buy) 		M - Exercise -1,100 8,483 -11.48
2012-11-29 2012-11-27 4 PTX PERNIX THERAPEUTICS HOLDINGS, INC.
Common Stock 		S - Sale X -1,100 36,667 -2.91 7.00 -7,700 256,669
2012-11-29 2012-11-27 4 PTX PERNIX THERAPEUTICS HOLDINGS, INC.
Common Stock 		M - Exercise 1,100 37,767 3.00 4.20 4,620 158,621
2012-11-26 2012-11-26 4 PTX PERNIX THERAPEUTICS HOLDINGS, INC.
Employee Stock Option (right to buy) 		M - Exercise -25,917 9,583 -73.01
2012-11-26 2012-11-26 4 PTX PERNIX THERAPEUTICS HOLDINGS, INC.
Common Stock 		S - Sale X -25,917 36,667 -41.41 7.18 -186,133 263,339
2012-11-26 2012-11-26 4 PTX PERNIX THERAPEUTICS HOLDINGS, INC.
Common Stock 		M - Exercise 25,917 62,584 70.68 4.20 108,851 262,853
2012-11-26 2012-11-23 4 PTX PERNIX THERAPEUTICS HOLDINGS, INC.
Employee Stock Option (right to buy) 		M - Exercise -8,800 35,500 -19.86
2012-11-26 2012-11-23 4 PTX PERNIX THERAPEUTICS HOLDINGS, INC.
Common Stock 		S - Sale X -8,800 36,667 -19.35 7.41 -65,234 271,812
2012-11-26 2012-11-23 4 PTX PERNIX THERAPEUTICS HOLDINGS, INC.
Common Stock 		M - Exercise 8,800 45,467 24.00 4.20 36,960 190,961
2012-11-23 2012-11-21 4 PTX PERNIX THERAPEUTICS HOLDINGS, INC.
Employee Stock Option (right to buy) 		M - Exercise -3,440 44,300 -7.21
2012-11-23 2012-11-21 4 PTX PERNIX THERAPEUTICS HOLDINGS, INC.
Common Stock 		S - Sale X -3,440 36,667 -8.58 7.37 -25,356 270,265
2012-11-23 2012-11-21 4 PTX PERNIX THERAPEUTICS HOLDINGS, INC.
Common Stock 		M - Exercise 3,440 40,107 9.38 4.20 14,448 168,449
2012-11-23 2012-11-20 4 PTX PERNIX THERAPEUTICS HOLDINGS, INC.
Employee Stock Option (right to buy) 		M - Exercise -17,242 47,740 -26.53
2012-11-23 2012-11-20 4 PTX PERNIX THERAPEUTICS HOLDINGS, INC.
Common Stock 		S - Sale X -17,242 36,667 -31.98 7.23 -124,730 265,253
2012-11-23 2012-11-20 4 PTX PERNIX THERAPEUTICS HOLDINGS, INC.
Common Stock 		M - Exercise 17,242 53,909 47.02 4.20 72,416 226,418
2012-11-19 2012-11-19 4 PTX PERNIX THERAPEUTICS HOLDINGS, INC.
Employee Stock Option (right to buy) 		M - Exercise -23,208 64,982 -26.32
2012-11-19 2012-11-19 4 PTX PERNIX THERAPEUTICS HOLDINGS, INC.
Common Stock 		S - Sale X -23,208 36,667 -38.76 7.27 -168,736 266,591
2012-11-19 2012-11-19 4 PTX PERNIX THERAPEUTICS HOLDINGS, INC.
Common Stock 		M - Exercise 23,208 59,875 63.29 4.20 97,474 251,475
2012-11-19 2012-11-16 4 PTX PERNIX THERAPEUTICS HOLDINGS, INC.
Employee Stock Option (right to buy) 		M - Exercise -21,634 88,190 -19.70
2012-11-19 2012-11-16 4 PTX PERNIX THERAPEUTICS HOLDINGS, INC.
Common Stock 		S - Sale X -21,634 36,667 -37.11 7.30 -157,928 267,669
2012-11-19 2012-11-16 4 PTX PERNIX THERAPEUTICS HOLDINGS, INC.
Common Stock 		M - Exercise 21,634 58,301 59.00 4.20 90,863 244,864
2012-11-19 2012-10-09 4/A PTX PERNIX THERAPEUTICS HOLDINGS, INC.
Employee Stock Option (right to buy) 		M - Exercise X -100 109,824 -0.09
2012-11-19 2012-10-05 4/A PTX PERNIX THERAPEUTICS HOLDINGS, INC.
Employee Stock Option (right to buy) 		M - Exercise X -1,188 109,924 -1.07
2012-11-19 2012-10-04 4/A PTX PERNIX THERAPEUTICS HOLDINGS, INC.
Employee Stock Option (right to buy) 		M - Exercise X -16,472 111,112 -12.91
2012-11-19 2012-10-03 4/A PTX PERNIX THERAPEUTICS HOLDINGS, INC.
Employee Stock Option (right to buy) 		M - Exercise X -9,916 127,584 -7.21
2012-11-19 2012-10-03 4/A PTX PERNIX THERAPEUTICS HOLDINGS, INC.
Employee Stock Option (right to buy) 		M - Exercise X -833 0 -100.00
2012-10-09 2012-10-09 4 PTX PERNIX THERAPEUTICS HOLDINGS, INC.
Common Stock 		S - Sale X -100 36,667 -0.27 8.00 -800 293,336
2012-10-09 2012-10-09 4 PTX PERNIX THERAPEUTICS HOLDINGS, INC.
Common Stock 		M - Exercise 100 36,767 0.27 4.20 420 154,421
2012-10-09 2012-10-05 4 PTX PERNIX THERAPEUTICS HOLDINGS, INC.
Common Stock 		S - Sale X -1,188 36,667 -3.14 8.00 -9,504 293,336
2012-10-09 2012-10-05 4 PTX PERNIX THERAPEUTICS HOLDINGS, INC.
Common Stock 		M - Exercise 1,188 37,855 3.24 4.20 4,990 158,991
2012-10-04 2012-10-04 4 PTX PERNIX THERAPEUTICS HOLDINGS, INC.
Common Stock 		S - Sale X -16,472 36,667 -31.00 8.00 -131,776 293,336
2012-10-04 2012-10-04 4 PTX PERNIX THERAPEUTICS HOLDINGS, INC.
Common Stock 		M - Exercise 16,472 47,139 53.71 4.20 69,182 197,984
2012-10-04 2012-10-03 4 PTX PERNIX THERAPEUTICS HOLDINGS, INC.
Common Stock 		S - Sale X -10,749 36,667 -22.67 8.00 -85,992 293,336
2012-10-04 2012-10-03 4 PTX PERNIX THERAPEUTICS HOLDINGS, INC.
Common Stock 		M - Exercise 9,916 47,416 26.44 4.20 41,647 199,147
2012-10-04 2012-10-03 4 PTX PERNIX THERAPEUTICS HOLDINGS, INC.
Common Stock 		M - Exercise 833 37,500 2.27 2.20 1,833 82,500
2012-04-17 2012-03-22 4 PTX PERNIX THERAPEUTICS HOLDINGS, INC.
Options (right to buy) 		A - Award 10,000 10,000
2012-04-17 2012-03-22 4 PTX PERNIX THERAPEUTICS HOLDINGS, INC.
Common Stock 		A - Award 10,000 36,667 37.50
2012-01-25 2012-01-24 4 PTX PERNIX THERAPEUTICS HOLDINGS, INC.
Employee Stock Option (right to buy) 		M - Exercise -25,000 833 -96.78
2012-01-25 2012-01-24 4 PTX PERNIX THERAPEUTICS HOLDINGS, INC.
Common Stock 		S - Sale X -25,000 26,667 -48.39 10.09 -252,348 269,174
2012-01-25 2012-01-24 4 PTX PERNIX THERAPEUTICS HOLDINGS, INC.
Common Stock 		M - Exercise 25,000 51,667 93.75 2.20 55,000 113,667
P
Open market or private purchase of non-derivative or derivative security
S
Open market or private sale of non-derivative or derivative security
A
Grant, award, or other acquisition of securities from the company (such as an option)
C
Conversion of derivative
D
Sale or transfer of securities back to the company
F
Payment of exercise price or tax liability using portion of securities received from the company
G
Gift of securities by or to the insider
K
Equity swaps and similar hedging transactions
M
Exercise or conversion of derivative security received from the company (such as an option)
V
A transaction voluntarily reported on Form 4
J
Other (accompanied by a footnote describing the transaction)