Insider Buying: Lpath CEO Purchases 10,000 Shares of Stock (LPTN)
Lpath (NASDAQ:LPTN) CEO Scott R. Pancoast bought 10,000 shares of Lpath stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average cost of $3.00 per share, for a total transaction of $30,000.00. Following the completion of the purchase, the chief executive officer now directly owns 116,435 shares of the company’s stock, valued at approximately $349,305. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.
Lpath (NASDAQ:LPTN) traded down 7.58% on Tuesday, hitting $3.05. 398,134 shares of the company’s stock traded hands. Lpath has a 1-year low of $3.05 and a 1-year high of $6.46. The stock’s 50-day moving average is $3.69 and its 200-day moving average is $4.18. The company’s market cap is $47.6 million.
Separately, analysts at MLV & Co
cut their price target on shares of Lpath from $13.00 to $11.00 in a research note on Wednesday, June 11th. They now have a “buy” rating on the stock.
Lpath, Inc is a biotechnology company focused on the discovery and development of lipidomic-based therapeutics, an emerging field of medical science whereby bioactive lipids are targeted to treat human diseases.
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