SPANA CARL purchased ~$2045M in Palatin Technologies, Inc. stock
Palatin Technologies, Inc. (PTN) · Data via SEC EDGAR Form 4
Price Performance · 10 days before → 90 days after trade
▲ = insider buy date
90-day return
+71.8%
Trade Details · Public SEC Filing
Insider
SPANA CARL
Role
—
Transaction
Open-Market Purchase
Approx. Value
~$2045M
Trade Date
Jun 13, 2025
Company
Palatin Technologies, Inc.
Ticker
PTNSource
SEC EDGAR Form 4
Why This Trade Stands Out
Strong conviction signal
Scored above average across multiple factors. Roughly 15% of insider trades qualify as Strong.
~$2045M purchase
Trades over $1M are rare. When insiders put this much of their own money on the line, they tend to have high conviction in their company's direction.
3 insiders traded in the same window
When multiple insiders independently buy within 30 days, it's called a cluster. Studies show clustered insider purchases outperform solo trades significantly, because several people with inside knowledge are reaching the same conclusion.
+71.8% in 90 days
Measured from trade date to 90 days later. We track the performance of every insider trade to identify which insiders consistently make profitable moves.
How good is SPANA CARL at picking stocks?
Full track record: win rate, average return, and performance vs S&P 500
SPANA CARL wasn't the only one buying.
3 insiders at Palatin Technologies, Inc. traded within the same 30-day window.
See who else bought · FreeOn June 13, 2025, SPANA CARL — a corporate insider at Palatin Technologies, Inc. — filed a Form 4 with the SEC disclosing an open-market purchase of approximately ~$2045M in Palatin Technologies, Inc. (PTN) stock.
This transaction was part of a cluster — 3 insiders at Palatin Technologies, Inc. made open-market purchases within the same 30-day window. Cluster activity from multiple independent insiders is one of the most studied patterns in insider trading research.
Under Section 16(a) of the Securities Exchange Act of 1934, corporate insiders must report all open-market stock transactions to the SEC within two business days. These filings — known as Form 4s — are publicly available on the SEC's EDGAR database. VeritySignals filters and scores the full Form 4 stream to surface high-conviction signals like this one.
In the 90 days following this trade, PTN returned +71.8%
VeritySignals Conviction Analysis
Full Conviction Analysis
Sign up free to see signal strength details, or upgrade for the full 15-factor breakdown.
Get notified the next time SPANA CARL trades
Free alerts · No credit card · Instant notification
All data sourced from publicly available SEC Form 4 filings via EDGAR · Not financial advice · Past performance does not guarantee future results.
At a Glance
More PTN Insider Activity
SPANA CARL
Jun 13, 2025
~$454M
VS
SPANA CARL
Dec 27, 2022
~$45K
STRONG
SPANA CARL
Jun 30, 2021
~$105K
STRONG
How to Read Insider Trades
What is this?
When company executives buy or sell their own stock, they must report it to the SEC within 2 days. These public filings reveal what the people who know the company best are doing with their own money.
Why does it matter?
Insiders can sell for many reasons (taxes, diversification, expenses), but they generally only buy for one: they think the stock is going up. That's why insider purchases are more predictive than sales.
What makes a trade "strong"?
We score trades on 15+ factors: the insider's role (CEO > director), trade size relative to their salary, whether other insiders also bought (clusters), and historical accuracy of the insider.
Never miss a signal
Get notified when high-conviction insiders buy. Free account, no credit card.
Sign up free