Jaye Thompson, a VP at
Greenwich LifeSciences (GLSI), recently picked up 1,000 shares. The buy increased his holdings by 0.4 percent, and came to a total price of just over $20,000.
He was joined by the company’s Chief Medical Officer, who also bought 1,000 shares, paid about the same price, and increased his stake by 1.1 percent. The company CEO and CFO also picked up 2,050 shares at the start of the year, increasing his holdings by 0.2 percent.
Overall, insiders at the company own 76.3 percent.
Shares of the biotech firm have slid 46 percent in the past year. The company has about 10 percent of its share price in cash and has no debt and is working on novel cancer immunotherapies, with a pending candidate in a Phase IIb clinical trial.
Action to take: As with any promising drug company working on a small pipeline, a big success could lead to a big move higher in shares, and the company’s potential buyout from one of the larger pharmaceutical or biotech names.
Given the high insider ownership here and the persistent buying in spite of the poor share performance last year, the stock looks like an interesting buy here with plenty of potential upside on any positive development.
For traders, shares are the only way to go. The company has a decent market cap at around $260 million, but there are no options to trade on this small-cap biotech right now.
Disclosure: The author of this article has no position in the company mentioned here, and does not intend to trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.
