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Biotech / Medical : biocircuits BIOC
BIOC 0.435-13.1%Oct 24 5:00 PM EST
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To: r. peter Dale who wrote (9)5/27/1997 1:42:00 AM
From: Xingbo Wang   of 65
 
I would be very surprised if these purchases were done on the open market. How on earth could so many insiders decide to buy exactly the same number of shares at the same time?

This reminds me of some insider buying data I saw some time ago when some insiders bought ORYX stock, all at $0.75 per share. How could they buy the stock all at the same price? I mean the price does fluctuate on the open market. I later found out that the stock was offered by the company to the insiders, all at $0.75. That price, incidently, was the 52 week low for that stock.

I have the feeling that BIOC might have offered its stock to certain insiders at X number of shares per person, and to some other insiders at Y number of shares per person, depending on their rank or senioriry. If that's the case, the price would be the same for all of them as well. The shares could have been offered to some trust accounts those insiders hold, making them indirect purchases.

Xingbo
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