Cohlhepp Ryan

Cohlhepp Ryan, President and COO, has demonstrated a clear selling bias in recent insider transactions, exclusively trading shares of Bellicum Pharmaceuticals (BCAX) across 28 reported filings. Since October 2025, Ryan has executed 16 sales totaling $2.3 million, with no purchases during this period. The transactions follow a consistent pattern of paired sales and smaller "M"-coded dispositions—likely representing tax withholdings—on the same dates. Notable sales include a $234,159 disposition on March 3, 2026, and a $157,257 sale on March 16, 2026, both accompanied by $30,318 withholdings. Earlier activity shows similar paired transactions, including a $144,472 sale on October 7, 2025, and a $145,243 sale on October 15, 2025, each with corresponding withholdings. Ryan’s trading history reveals a concentrated position in BCAX, with all transactions involving this single biopharmaceutical company. The absence of buy transactions since at least October 2025 suggests either portfolio rebalancing or liquidity needs, though the filings provide no explicit rationale. The sales occur at regular intervals, with multiple disposals often clustered on the same day—such as the two March 16, 2026, sales totaling $245,714. While Ryan’s total buy value historically amounts to $414,107, the recent sell-off represents a significant reduction in exposure to BCAX, with the most recent transactions occurring in March 2026. The pattern reflects a sustained exit strategy rather than isolated disposals.