Introduction

This page provides a comprehensive analysis of the known insider trading history of Alex Zisson. 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 Alex Zisson has reported holdings or trades in the following companies:

Security Title Latest Reported Holdings
Director, 10% Owner 5,692,381
US:ASPX / Auspex Pharmaceuticals, Inc. Director, 10% Owner 0
US:OCRX / Ocera Therapeutics, Inc. 10% Owner 762,892
Director 28,000
How to Interpret the Charts

The following charts show the stock performance of securities subsequent to each open-market, non-planned trade made by Alex Zisson. 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 Trading History

This table shows the complete list of insider trades made by Alex Zisson 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
2021-09-13 2021-09-09 4 CRXT Clarus Therapeutics Holdings, Inc.
Common Stock 		A - Award 2,470,756 5,692,381 76.69
2021-09-13 2021-09-09 4 CRXT Clarus Therapeutics Holdings, Inc.
Common Stock 		A - Award 2,731,094 3,221,625 556.76
2021-09-13 2021-09-09 4 CRXT Clarus Therapeutics Holdings, Inc.
Common Stock 		A - Award 490,531 490,531
2015-05-06 2015-05-05 4 ASPX Auspex Pharmaceuticals, Inc.
Common Stock 		U - Other -4,835,731 0 -100.00
2015-01-30 2015-01-28 4 ASPX Auspex Pharmaceuticals, Inc.
Common Stock 		S - Sale -730,000 4,835,731 -13.12 53.11 -38,770,300 256,825,673
2015-01-12 2015-01-08 4 ASPX Auspex Pharmaceuticals, Inc.
Common Stock Warrant 		M - Exercise -90,228 0 -100.00
2015-01-12 2015-01-08 4 ASPX Auspex Pharmaceuticals, Inc.
Common Stock Warrant 		M - Exercise -169,630 0 -100.00
2015-01-12 2015-01-08 4 ASPX Auspex Pharmaceuticals, Inc.
Common Stock Warrant 		M - Exercise -59,277 0 -100.00
2015-01-12 2015-01-08 4 ASPX Auspex Pharmaceuticals, Inc.
Common Stock 		D - Sale to Issuer -24,008 5,565,731 -0.43 51.57 -1,238,189 287,047,011
2015-01-12 2015-01-08 4 ASPX Auspex Pharmaceuticals, Inc.
Common Stock 		M - Exercise 319,135 5,589,739 6.05 3.88 1,237,925 21,682,598
2014-10-14 2014-10-09 4 ASPX Auspex Pharmaceuticals, Inc.
Common Stock Warrent 		M - Exercise -60,151 0 -100.00
2014-10-14 2014-10-09 4 ASPX Auspex Pharmaceuticals, Inc.
Common Stock 		D - Sale to Issuer -9,771 5,270,604 -0.19 23.88 -233,380 125,888,377
2014-10-14 2014-10-09 4 ASPX Auspex Pharmaceuticals, Inc.
Common Stock 		M - Exercise 60,151 5,280,375 1.15 3.88 233,326 20,482,575
2014-09-19 2014-05-14 4/A ASPX Auspex Pharmaceuticals, Inc.
Common Stock Warrants 		M - Exercise -65,839 0 -100.00
2014-09-19 2014-05-14 4/A ASPX Auspex Pharmaceuticals, Inc.
Common Stock 		D - Sale to Issuer -12,400 5,220,224 -0.24 20.60 -255,415 107,526,174
2014-09-19 2014-05-14 4/A ASPX Auspex Pharmaceuticals, Inc.
Common Stock 		M - Exercise 65,839 5,232,624 1.27 3.88 255,389 20,297,348
2014-09-09 2014-05-14 4 ASPX Auspex Pharmaceuticals, Inc.
Common Stock Warrants 		X - Other -65,839 0 -100.00
2014-09-09 2014-05-14 4 ASPX Auspex Pharmaceuticals, Inc.
Common Stock 		S - Sale -12,400 5,220,224 -0.24 20.60 -255,415 107,526,174
2014-09-09 2014-05-14 4 ASPX Auspex Pharmaceuticals, Inc.
Common Stock 		X - Other 65,839 5,232,624 1.27 3.88 255,389 20,297,348
2014-02-12 2014-02-10 4 ASPX Auspex Pharmaceuticals, Inc.
Common Stock Warrant 		C - Conversion 90,228 90,228
2014-02-12 2014-02-10 4 ASPX Auspex Pharmaceuticals, Inc.
Preferred Stock Warrant 		C - Conversion -406,032 0 -100.00
2014-02-12 2014-02-10 4 ASPX Auspex Pharmaceuticals, Inc.
Common Stock Warrant 		C - Conversion 169,630 169,630
2014-02-12 2014-02-10 4 ASPX Auspex Pharmaceuticals, Inc.
Preferred Stock Warrant 		C - Conversion -763,340 0 -100.00
2014-02-12 2014-02-10 4 ASPX Auspex Pharmaceuticals, Inc.
Common Stock Warrant 		C - Conversion 59,277 59,277
2014-02-12 2014-02-10 4 ASPX Auspex Pharmaceuticals, Inc.
Preferred Stock Warrant 		C - Conversion -266,750 0 -100.00
2014-02-12 2014-02-10 4 ASPX Auspex Pharmaceuticals, Inc.
Common Stock Warrant 		C - Conversion 60,151 60,151
2014-02-12 2014-02-10 4 ASPX Auspex Pharmaceuticals, Inc.
Preferred Stock Warrant 		C - Conversion -270,687 0 -100.00
2014-02-12 2014-02-10 4 ASPX Auspex Pharmaceuticals, Inc.
Common Stock Warrant 		C - Conversion 65,839 65,839
2014-02-12 2014-02-10 4 ASPX Auspex Pharmaceuticals, Inc.
Preferred Stock Warrant 		C - Conversion -296,281 0 -100.00
2014-02-12 2014-02-10 4 ASPX Auspex Pharmaceuticals, Inc.
Series E Convertible Preferred Stock 		C - Conversion -1,118,298 0 -100.00
2014-02-12 2014-02-10 4 ASPX Auspex Pharmaceuticals, Inc.
Series D Convertible Preferred Stock 		C - Conversion -11,915,254 0 -100.00
2014-02-12 2014-02-10 4 ASPX Auspex Pharmaceuticals, Inc.
Series C Convertible Preferred Stock 		C - Conversion -7,552,207 0 -100.00
2014-02-12 2014-02-10 4 ASPX Auspex Pharmaceuticals, Inc.
Series B Convertible Preferred Stock 		C - Conversion -2,289,771 0 -100.00
2014-02-12 2014-02-10 4 ASPX Auspex Pharmaceuticals, Inc.
Common Stock 		P - Purchase 83,334 5,166,785 1.64 12.00 1,000,008 62,001,420
2014-02-12 2014-02-10 4 ASPX Auspex Pharmaceuticals, Inc.
Common Stock 		C - Conversion 5,083,451 5,083,451
2013-07-17 2013-07-15 4/A OCRX Ocera Therapeutics, Inc.
Common Stock, par value $0.00001 per share 		J - Other 762,892 762,892 6.00 4,577,352 4,577,352
2013-07-17 2013-07-15 4/A OCRX Ocera Therapeutics, Inc.
Common Stock, par value $0.00001 per share 		J - Other 1,675,677 1,675,677 6.00 10,054,062 10,054,062
2013-07-17 2012-10-01 4/A OCRX Ocera Therapeutics, Inc.
Warrants 		A - Award 161,855 161,855 44.23 7,158,847 7,158,847
2013-07-17 2012-08-07 4/A OCRX Ocera Therapeutics, Inc.
Stock Option (Right to Buy) 		A - Award 31,835 31,835
2013-07-17 2012-03-30 4/A OCRX Ocera Therapeutics, Inc.
Warrants 		A - Award 161,855 161,855 44.23 7,158,847 7,158,847
2013-07-17 2011-04-19 4/A OCRX Ocera Therapeutics, Inc.
Stock Option (Right to Buy) 		A - Award 25,000 25,000
2013-07-17 2010-02-11 4/A OCRX Ocera Therapeutics, Inc.
Stock Option (Right to Buy) 		A - Award 25,000 25,000
2013-07-17 2009-02-11 4/A OCRX Ocera Therapeutics, Inc.
Stock Option (Right to Buy) 		A - Award 25,000 25,000
2013-07-17 2006-02-06 4/A OCRX Ocera Therapeutics, Inc.
Stock Option (Right to Buy) 		A - Award 100,000 100,000
2013-07-17 2013-07-15 4/A OCRX Ocera Therapeutics, Inc.
Common Stock, par value $0.00001 per share 		J - Other 2,500,002 2,500,002 6.00 15,000,012 15,000,012
2013-07-17 2012-08-07 4/A OCRX Ocera Therapeutics, Inc.
Stock Option (Right to Buy) 		A - Award 31,835 31,835
2013-07-17 2011-04-19 4/A OCRX Ocera Therapeutics, Inc.
Stock Option (Right to Buy) 		A - Award 25,000 25,000
2013-06-04 2013-06-03 4 NONE Celator Pharmaceuticals Inc
Stock Option (right to buy) 		A - Award 28,000 28,000
2012-08-09 2012-08-07 4 TZYM TRANZYME INC
Stock Option (Right to Buy) 		A - Award 31,835 31,835
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)