CEOs Are Buying and Selling Shares of These Companies

Board Member at Specialty Insurer Baldwin & Lyons Piles Up Shares

A corporate insider at Baldwin & Lyons Inc. (NASDAQ:BWINB) made a sizable purchase of company stock earlier this week; the most voluminous insider purchase at the company this year. Board member Arshad R. Zakaria bought 29,824 Class A (voting) shares on Wednesday at a price tag of $24.07 each, boosting his ownership of Class A shares to 82,824 units. Mr. Zakaria also owns 92,410 Class B (non-voting) shares.

Baldwin & Lyons Inc. (NASDAQ:BWINB), which engages in marketing and underwriting property and casualty insurance products, has seen the value of its stock gain 5% since the start of the year. The specialty insurer recorded premium written of $100.0 million for the second quarter of 2016, up from the $92.8 million written during the second quarter of the previous year. The increase was mainly attributable to continued strong performance of the company’s core Fleet Transportation products; Baldwin & Lyons offers multiple line insurance coverage mainly to fleet transportation companies. Prem Watsa’s Fairfax Financial Holdings was the owner of around 970,000 Class B shares of Baldwin & Lyons Inc. (NASDAQ:BWINB) at the end of June.

CEO of Battered Drug Developer Buys Shares

The man in charge of Chimerix Inc. (NASDAQ:CMRX) also completed a notable purchase of stock at the beginning of the week. President and CEO M. Michelle Berrey snatched up 22,417 shares on Monday at prices that fell between $4.44 and $4.51 per share. Following the recent purchase, Dr. Berrey currently holds an ownership of 282,238 shares.

At the end of December, the biopharmaceutical company announced that its Phase 3 SUPPRESS trial of brincidofovir, the company’s lead compound, failed to demonstrate the efficacy of this drug in preventing the reactivation of cytomegalovirus (CMV) infections in patients undergoing hematopoietic stem cell transplants. A great deal of value has been erased since the announcement, as Chimerix Inc. (NASDAQ:CMRX)’s shares are down 90% in the past year. In spite of the December-failure and two halted late-stage trials in February, the drug developer continues to evaluate brincidofovir as a possible treatment for adenovirus, cytomegalovirus and smallpox. Dennis Purcell’s Aisling Capital reported ownership of approximately 473,000 shares of Chimerix Inc. (NASDAQ:CMRX) through the latest round of 13Fs.

The final page of the article will reveal noteworthy insider selling at two other companies.