Basic Energy Services Inc. (BAS) Insiders Sell Shares After Exiting Bankruptcy Protection, Plus Other Insider Trading

CEO of Low-Priced Biopharmaceutical Company Buys Shares Ahead of Year-End

The man in charge of Neuralstem Inc. (NASDAQ:CUR) purchased a block of shares before the end of the year. Richard Daly, President and Chief Executive Officer of the biopharmaceutical company since mid-February 2016, purchased 32,259 shares two Fridays ago, at $0.31 apiece. After the not-so-distant purchase, Mr. Daly currently owns an aggregate of 134,939 shares.

The shares of the biopharmaceutical company focused on developing central nervous system therapies based on its proprietary neural stem cell technology lost 73% in 2016. Neuralstem Inc. (NASDAQ:CUR)’s patented technology facilitates the production of various types of central nervous system stem cells, which are being developed for the treatment of central nervous system diseases and conditions. The company currently has two product candidates in clinical development in a total of four different indications. Hal Mintz’s Sabby Capital trimmed its stake in Neuralstem Inc. (NASDAQ:CUR) by 58% during the September quarter to 2.79 million shares.

CEO of U.S. Energy Company Offloads Shares

Let’s turn our attention to several noteworthy insider sales reported on Friday, starting with the insider selling at Newfield Exploration Co. (NYSE:NFX). President and CEO Lee K. Boothby sold 30,000 shares on Wednesday at a price tag of $41.72 each. Mr. Boothby currently owns 230,162 shares following the recent sale.

The independent energy company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids saw its shares gain 25% last year. Newfield Exploration Co. (NYSE:NFX)’s operations are mainly focused on large-scale onshore liquids-rich resource plays in the United States, with the principal areas of operations being the Anadarko and Arkoma basins of Oklahoma, the Williston Basin of North Dakota, and the Uinta Basin of Utah. The company’s domestic oil, gas and NGL revenue decreased by $91 million in the nine month-period ended September 30, to $898 million, reflecting a 20% decrease in average realized prices relative to the same period of the previous year. There were 45 hedge funds in our system invested in the energy company both at the end of the third and second quarters, amassing around 10% of the company’s outstanding shares on September 30. Clint Carlson’s Carlson Capital had 1.70 million shares of Newfield Exploration Co. (NYSE:NFX) in its portfolio at the end of September.

The final page of this article reveals the fresh insider selling recently observed at two other companies.