You are absolutely right. These investors could have been selling shares for more than half a year. The perfect example is Atticus Capital. They sold a minute percentage of their stock but appear to be holding the lions share of their investment in tact.
The volume has remained low the last few weeks, but will hopefully spike when the next round of positive business announcements are released. Legend was supposed to have received several sets of results back by the end of April, so I would expect to see something in the next week or two.
Joe Gutnick was featured on the cover of a weekly magazine called Mishpacha this week, and gave a very upbeat interview about his life and Legend in the ensuing article. He clearly proclaimed his confidence in the future of Legend.
Lets' hope that articles like these prompt better known publications to follow suit and focus on LGDI in the near future.
Good Luck to all!