Panorama Capital, L.P.

Panorama Capital, L.P. discloses dealings in 2 companies, chiefly Hyperion Therapeutics Inc and Auspex Pharmaceuticals, Inc. In total, 12 filings cover trades dated from 31 July 2012 to 28 January 2015.

In open-market terms, that means 2 purchases worth €7.4M on one side and 1 sale worth €12.6M on the other. On balance, insiders were net sellers of €5.2M. A purchase on the market is a deliberate choice to commit personal money, which is why it draws more attention than a grant. Besides market trades, the filings include 1 share grant. So far in 2015, the count stands at no purchases and 1 sale.

The record was last updated on 28 January 2015 with an open-market sale (€12.6M) in Auspex Pharmaceuticals, Inc. The most recent open-market purchase was published on 12 February 2014, 4,653 days ago. Between a trade and the moment it shows up on SEC (Form 4), the median delay is 2 days. The legal deadline for a Form 4 is two business days after the transaction. Source: insider filings from SEC (Form 4). Past trades are no guide to future returns.