Lpath CEO Acquires $30,000 in Stock (LPTN)
Lpath (NASDAQ:LPTN) CEO Scott R. Pancoast acquired 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The shares were purchased at an average price of $3.00 per share, with a total value of $30,000.00. Following the completion of the purchase, the chief executive officer now directly owns 116,435 shares in the company, valued at approximately $349,305. The purchase was disclosed in a document filed with the SEC, which is available at this link.
Lpath (NASDAQ:LPTN) traded up 6.86% during mid-day trading on Thursday, hitting $3.27. The stock had a trading volume of 4,100 shares. Lpath has a one year low of $2.75 and a one year high of $6.46. The stock has a 50-day moving average of $3.63 and a 200-day moving average of $4.16. The company’s market cap is $51.1 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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