Previous week was a bit slow in terms of trading volume and pace because of the ending summer season. However, some major companies including Intercept Pharmaceuticals Inc (NASDAQ:ICPT), Plug Power Inc. (NASDAQ: PLUG), and 3D Systems Corporation (NYSE:DDD) witnessed an increase in insider sales throughout the week.
Intercept Pharmaceuticals Inc (NASDAQ:ICPT) saw a huge volume of insider sales with OrbiMed Advisors leading in insider sales with 111,258 shares sold within the week followed by the Director of Intercept Pharmaceuticals Inc (NASDAQ:ICPT), Jonathan Silverstein, selling an equal number of shares. Further, the CMO of ICPT, David Shapiro sold 10,000 shares of the company within this week. These sales took place despite of the fact that Intercept is considered as one of the industry leading companies.
Another major company that raised concern with huge insider sales includes Plug Power Inc. (NASDAQ: PLUG). One of the directors of Air Liquide Investments sold a huge stake of 5,521,676 shares at a price of $5.80. It might come as a surprise to the shareholders because the company posted quarter results above the market expectations. Plug Power Inc. (NASDAQ: PLUG) reported revenue of $17.3 million, which is nearly three-fold of its revenue in the first quarter 2014.
3D Systems Corporation (NYSE:DDD) was among the companies with high insider sales in the week. Some of the major insider sales took place after the company officials sold their stakes with N Abraham Reichental, CEO and President of 3D Systems Corporation (NYSE:DDD), selling 52,300 shares followed by the company CFO, Damon Joseph Gregoire, selling 50,000 shares. In addition to it, another VP of the company, Andrew Martin Johnson, sold 5,000 shares of 3D Systems Corporation (NYSE:DDD).
This article has been written by Prakash Pandey and edited by Serkan Unal.
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