Kenneth H Traub - Insider Trading Tracker

Athersys, Inc.

US ˙ OTCPK ˙ US04744L2051

Introduction

This page provides a comprehensive analysis of the known insider trading history of Kenneth H Traub. 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.

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Companies with Reported Insider Positions

The SEC filings indicate Kenneth H Traub has reported holdings or trades in the following companies:

Security	Title	Latest Reported Holdings
US:TDW / Tidewater Inc.	Director	71,761
US:CMTL / Comtech Telecommunications Corp.	Director	26,234
US:EGIO / Edgio, Inc.	Director	530,304
US:ATHX / Athersys, Inc.	Director	22,223
US:DSPG / DSP Group, Inc.	Director	0
US:IMI / Intermolecular, Inc.	Director	0
US:IMMR / Immersion Corporation	Director	17,889
US:GLF / GulfMark Offshore, Inc.	Director	0
US:MRVC / MRV Communications, Inc.	Director	0
US:148411AF8 / A.M. Castle & Co. Bond	Director	18,888
US:VTSS /	Director	0
US:NSP / Insperity, Inc.	10% Owner	8,000
US:MIPS / Mips Technologies Inc	Director	0
US:IPAS / iPass, Inc.	Director	139,355

How to Interpret the Charts

The following charts show the stock performance of securities subsequent to each open-market, non-planned trade made by Kenneth H Traub. 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 ATHXQ / Athersys, Inc. - Short Term Profit Analysis

In this section, we analyze the profitability of every unplanned, open-market insider purchase made in ATHXQ / Athersys, 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 (%)
2020-06-24	ATHX	TRAUB KENNETH H	20,000	2.2100	800	55.2500	44,200	23	77	17,400	39.37
2020-06-24	ATHX	TRAUB KENNETH H	20,000	2.2400	800	56.0000	44,800
2020-06-24	ATHX	TRAUB KENNETH H	10,000	2.1900	400	54.7500	21,900
2020-06-23	ATHX	TRAUB KENNETH H	20,000	2.3400	800	58.5000	46,800
2020-06-23	ATHX	TRAUB KENNETH H	20,000	2.2500	800	56.2500	45,000
2020-06-23	ATHX	TRAUB KENNETH H	10,000	2.3800	400	59.5000	23,800
2020-06-22	ATHX	TRAUB KENNETH H	20,000	2.3500	800	58.7500	47,000
2020-06-22	ATHX	TRAUB KENNETH H	20,000	2.4500	800	61.2500	49,000
2015-06-09	ATHX	TRAUB KENNETH H	30,000	1.2700	1,200	31.7500	38,100
2014-09-24	ATHX	TRAUB KENNETH H	29,900	1.3900	1,196	34.7500	41,561
2014-09-24	ATHX	TRAUB KENNETH H	100	1.3850	4	34.6250	138
2013-12-11	ATHX	TRAUB KENNETH H	19,300	1.9400	772	48.5000	37,442
2013-12-11	ATHX	TRAUB KENNETH H	600	1.9375	24	48.4375	1,162
2013-12-11	ATHX	TRAUB KENNETH H	100	1.9380	4	48.4500	194