Insider Buying: Lpath CFO Buys 5,000 Shares of Stock (LPTN)
Lpath (NASDAQ:LPTN) CFO Gary J. G. Atkinson purchased 5,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were purchased at an average cost of $3.10 per share, for a total transaction of $15,500.00. Following the completion of the purchase, the chief financial officer now directly owns 21,298 shares of the company’s stock, valued at approximately $66,024. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Lpath (NASDAQ:LPTN) traded up 1.31% on Thursday, hitting $3.10. 12,685 shares of the company’s stock traded hands. Lpath has a 52 week low of $2.75 and a 52 week high of $6.46. The stock’s 50-day moving average is $3.63 and its 200-day moving average is $4.16. The company’s market cap is $48.4 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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