Insider Buying: Echo Therapeutics major shareholder Acquires 17,300 Shares of Stock (ECTE)
Echo Therapeutics (NASDAQ:ECTE) major shareholder Mark Nordlicht purchased 17,300 shares of Echo Therapeutics stock on the open market in a transaction dated Thursday, June 26th. The stock was purchased at an average cost of $2.20 per share, for a total transaction of $38,060.00. The purchase was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
Echo Therapeutics (NASDAQ:ECTE) opened at 2.26 on Tuesday. Echo Therapeutics has a 1-year low of $1.53 and a 1-year high of $4.91. The stock has a 50-day moving average of $1.97 and a 200-day moving average of $2.90. The company’s market cap is $27.1 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. On average, analysts predict that Echo Therapeutics will post $-0.90 earnings per share 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.