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Insiders at Money-Losing Genetic Testing Company, Large U.S. Power Company, and Transforming REIT Are Buying Shares, Plus Some Noteworthy Insider Selling

Non-Executive Chairman at Transforming REIT Purchases Shares

One important member of Gramercy Property Trust (NYSE:GPT)’s Board of Trustees purchased a rather sizeable block of shares earlier this week. Charles E. Black, the Non-Executive Chairman of Gramercy’s Board since June 2012, acquired 97,774 shares on Monday at prices varying from $8.47 to $8.52 per share. After the recent transaction, Mr. Black currently holds an ownership stake of 203,545 shares.

The shares of the global investor and asset manager of commercial real estate are 13% in the green this year. The real estate investment trust specializes in acquiring and managing single-tenant industrial, office, and specialty properties. Earlier this week, Gramercy Property Trust (NYSE:GPT) announced the closing of the sale of three single-tenant office buildings for gross proceeds of $106.3 million. With these sales, the REIT has sold more than $1.5 billion of single and multi-tenant assets in the Untied States and Europe this year, as part of its plan to dispose certain non-core assets after the merger with Chambers Street Properties in mid-December of 2015. In early November, the REIT’s Board approved a 13.6%-increase in the company’s quarterly dividend to $0.125 per share, with the increased dividend yielding 5.71% annually.

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Cluster of Insider Buying at Money-Losing Genetic Testing Company

Let’s refocus our attention on the cluster of insider buying observed at InVitae Corp (NYSE:NVTA). To start with, Chairman and CEO Randal W. Scott snatched up 66,666 shares on Tuesday at a price of $6.00 per share. Dr. Scott currently owns an aggregate of 3.51 million shares following the recent purchase. Geoffrey S. Crouse, who has served on the company’s board since March 2012, purchased 15,000 shares on Friday at prices that fell between $6.23 and $6.30 per share, a purchase that lifted his holding to 34,259 shares. Long-time Board member Eric Aguiar bought a new stake of 10,000 shares on the same day at prices ranging from $6.25 to $6.30 per share.

The money-losing genetic testing company has seen the value of its stock drop by 15% since the beginning of the year. InVitae Corp (NYSE:NVTA) uses an integrated portfolio of laboratory processes, software tools and informatics capabilities to process DNA-containing samples, analyze information about patient-specific genetic variation and generate test reports for clinicians and their patients. The company’s plan or mission revolves around bringing comprehensive genetic information into mainstream medical practice. InVitae reported revenue of $15.81 million for the first three quarters of the year, up from $5.22 million recorded for the same period a year ago. Baker Bros. Advisors LP, managed by Julian and Felix Baker, reported ownership of 6.55 million shares of InVitae Corp (NYSE:NVTA) through the latest round of 13Fs.

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The final page of this insider trading article will discuss fresh insider selling witnessed at two other companies.