Worth a closer look
- Open-market purchase with their own money (Form 4 code P), not a grant or option exercise.
- Raised their own holding by 10%.
Reasons for caution
- Held indirectly (a trust, fund or family entity), so the economic owner isn't only the named insider.
- Similar past buys beat the S&P 500 only 46% of the time (9,298 cases); the typical one trailed it by 1.3%.
- Their past buys: only 2 of 8 beat the S&P 500.
What happened after this filing
Insider Twins: past buys with the same traits
1 insider buying · no CEO or CFO
GME Dec 21, 2020 +1183.4% vs S&PKXIN Jul 21, 2020 +836.6% vs S&PAGL Mar 3, 2026 +541.0% vs S&PRPGL Mar 6, 2026 -107.3% vs S&PADTX Apr 23, 2026 -105.7% vs S&PAVTX May 24, 2023 -103.9% vs S&PWhat we couldn't check
- Why they traded. Filings don't say, and we don't guess.
- Company news after the filing, and any private terms.
Orbimed Advisors LLC (a director) bought $3.6M of ETRA at about $7.63 between Nov 3, 2026 and Nov 5, 2026, reported to the SEC on Nov 5, 2026. Buys like this beat the S&P 500 46% of the time since 2020, against 46% for all insider buys. We found 2 points that make it worth a closer look and 3 reasons for caution. History, not a prediction.
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Written by fixed rules from SEC filings and our measured history, not by an AI model. Public data only. History, not a prediction, and not investment advice.