Joseph H Wender - Insider Trading Tracker

Introduction

This page provides a comprehensive analysis of the known insider trading history of Joseph H Wender. 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

Companies with Reported Insider Positions

The SEC filings indicate Joseph H Wender has reported holdings or trades in the following companies:

How to Interpret the Charts

The following charts show the stock performance of securities subsequent to each open-market, non-planned trade made by Joseph H Wender. 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 IONS / Ionis Pharmaceuticals, Inc. - Short Term Profit Analysis

In this section, we analyze the profitability of every unplanned, open-market insider purchase made in IONS / Ionis 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 (%)
There are no known unplanned open-market trades for this insider and security combination

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

Insider Sales IONS / Ionis 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 IONS / Ionis 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 (%)
2019-03-19	IONS	WENDER JOSEPH H	10,000	79.6258	10,000	79.6258	796,258	363	43.2500	-363,758	-45.68
2018-05-11	IONS	WENDER JOSEPH H	400	44.0200	400	44.0200	17,608
2018-05-11	IONS	WENDER JOSEPH H	6,010	45.7900	6,010	45.7900	275,198
2018-05-11	IONS	WENDER JOSEPH H	8,590	45.0300	8,590	45.0300	386,808
2015-03-18	ISIS	WENDER JOSEPH H	6,100	70.9480	6,100	70.9480	432,783
2015-03-18	ISIS	WENDER JOSEPH H	6,400	71.8443	6,400	71.8443	459,804
2015-03-05	ISIS	WENDER JOSEPH H	12,500	71.6139	12,500	71.6139	895,174
2015-03-02	ISIS	WENDER JOSEPH H	7,000	65.9693	7,000	65.9693	461,785
2015-02-12	ISIS	WENDER JOSEPH H	10,000	62.1460	10,000	62.1460	621,460
2014-02-03	ISIS	WENDER JOSEPH H	4,700	48.7825	4,700	48.7825	229,278
2014-01-22	ISIS	WENDER JOSEPH H	10,000	50.9803	10,000	50.9803	509,803
2013-12-20	ISIS	WENDER JOSEPH H	10,000	40.0125	10,000	40.0125	400,125
2013-12-19	ISIS	WENDER JOSEPH H	9,731	39.1340	9,731	39.1340	380,813
2013-11-26	ISIS	WENDER JOSEPH H	10,000	36.6336	10,000	36.6336	366,336
2013-06-20	ISIS	WENDER JOSEPH H	5,447	20.9300	5,447	20.9300	114,006

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

Insider Trading History

This table shows the complete list of insider trades made by Joseph H Wender as disclosed to the Securities Exchange Commission (SEC).