Insiders at Automotive Replacement-Parts Distributor and Struggling Lighting Company Buy Shares After Earnings Disappointments, Plus Notable Insider Trading at Three Other Companies

Board Members and Executives at Low-Priced Cancer Diagnostics Company Participate in Public Offering

A high number of Board members and executives at Biocept Inc. (NASDAQ:BIOC) participated in the company’s recently-held public offering of 9.10 million shares and warrants to purchase up to 9.10 million shares at a combined offering price of $1.10 per unit (with each unit consisting of one share and one warrant). With that in mind, let’s see how many shares the company’s executive management team bought through the public offering.

To start with, President and CEO Michael W. Nall snapped up 36,363 shares and warrants to purchase the same amount of shares on Wednesday at $1.10 apiece. Following the transaction, Mr. Nall currently owns 49,574 shares of common stock via a trust fund. Timothy C. Kennedy, Chief Financial Officer and Senior Vice President of Operation, bought the same amount of 36,363 shares, lifting his overall holding to 61,363 shares. Veena M. Singh, a Senior Vice President and Senior Medical Director, purchased 10,000 units of common stock through the offering. Dr. Singh owns 26,666 shares after the recent purchase. Lyle J. Arnold, Chief Scientific Officer and Senior Vice President of Research and Development, snatched up 45,000 shares on Wednesday, a transaction that boosted his ownership stake to 65,238 shares.

The early stage cancer diagnostics company commercializing assays for lung, breast, gastric, colorectal and prostate cancers, and melanoma has seen the value of its shares plummet by 78% year-to-date. Biocept Inc. (NASDAQ:BIOC) plans to use the proceeds from the offering for general corporate purposes, as well as fund ongoing operations and expansion of its business.

Two Insiders at Struggling Lighting Company Purchase Shares

The man in charge of Cree Inc. (NASDAQ:CREE) and one Board member snapped up some shares this past week. President and CEO Charles M. Swoboda bought 10,000 shares on Thursday at a price tag of $22.22 each. Following the recent purchase, the CEO currently holds an aggregate of 545,870 shares. Director John B. Replogle acquired 5,000 shares on the same day for $22.34 apiece, lifting his overall ownership to 52,444 shares.

The insider buying comes after the shares of the maker lighting-class light emitting diode (LED) products, lighting products and wide bandgap semiconductor products for power and radio-frequency applications fell as much as 14% on Wednesday due to disappointing results for the first quarter of fiscal year 2016 that ended September 25. Cree Inc. (NASDAQ:CREE) recorded revenue from continuing operations of $321 million for the quarter, down from $381 million posted a year ago. In mid-July, the lighting company agreed to sell the Wolfspeed business, a division that makes chips for power-management and radio-frequency products. For the second quarter of fiscal 2017 ending December 25, Cree anticipates revenue from continuing operations in the range of $310 million-to-$330 million. Cree’s shares are down 17% year-to-date. Royce & Associates, founded by Chuck Royce, had 443,200 shares of Cree Inc. (NASDAQ:CREE) in its portfolio at the end of the June quarter.

The final page of this insider trading article discusses fresh insider selling observed at two other companies.