Insider Buying: Mark Nordlicht Acquires 16,961 Shares of Echo Therapeutics Stock (ECTE)
Echo Therapeutics (NASDAQ:ECTE) major shareholder Mark Nordlicht acquired 16,961 shares of the stock in a transaction that occurred on Tuesday, June 24th. The stock was purchased at an average price of $2.20 per share, with a total value of $37,314.20. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
Shares of Echo Therapeutics (NASDAQ:ECTE) traded down 2.21% during mid-day trading on Tuesday, hitting $2.21. 26,435 shares of the company’s stock traded hands. Echo Therapeutics has a one year low of $1.53 and a one year high of $4.91. The stock’s 50-day moving average is $2.04 and its 200-day moving average is $2.92. The company’s market cap is $26.5 million.
Echo Therapeutics (NASDAQ:ECTE) last released its earnings data on Friday, May 9th. The company reported ($0.23) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.31) by $0.08. The company had revenue of $0.02 million for the quarter, compared to the consensus estimate of $0.02 million. Analysts expect that Echo Therapeutics will post $-0.90 EPS for the current fiscal year.
Separately, analysts at Feltl & Co. downgraded shares of Echo Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, May 12th.
Echo Therapeutics, Inc (NASDAQ:ECTE) is a medical device and specialty pharmaceutical company.
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