26 Aug 3 Biotech Stocks Insiders Are Selling
Insider selling cannot be the sole indicator for investing in a stock, but it would be wise to make a note of the buying and selling activities to gauge a company’s prospects or the lack thereof. While insiders buying or selling the Company’s stock could provide investors with a general idea about the direction it is headed, a thorough understanding of its fundamentals, recent news and analyst estimates should be taken into consideration while making an investment decision.
We take a look at three companies that have witnessed insider selling in the past year.
Market Cap: $646.02M; Current Share Price: 8.09 USD
Data by YCharts
Insider Selling Information for Past 12 Months: Insiders have sold USD 4.7 million of the stock over the past year, with the biggest transaction being for USD 2.4 million worth of shares at a price of USD 9.69 each, by the Company’s chairman Mitchell Steiner. The current price of the stock is USD 8.09, which shows that the trade was at a much higher price. Another significant transaction was made by Harry Fisch, Vice Chairman & Chief Corporate Officer of Veru, who sold USD 835 thousand worth of shares over the last three months.
In total, insiders have sold 470 thousand shares worth USD 4.7 million, which is higher than the insider buying of shares that stood at 13.30 thousand shares valued at USD 96 thousand. However, insiders own nearly USD 122 million in shares, which is roughly 20 percent of the company.
Recent News: The Company announced a record 71 percent increase in net revenues to $17.7 million from $10.3 million as compared to fiscal 2020 and 113% rise in gross profit to $13.9 million from $6.5 million as against fiscal 2020, for the 3Q,2021 as per its most recent financial results.
Company Profile: Veru Inc is an oncology focused biopharmaceutical Company developing novel therapeutics for the treatment of prostate cancer and breast cancer. The Company is developing Sabizabulin (VERU-111), a first-in-class oral selective antitubulin, targeted at castration resistant prostate cancer (mCRPC). The candidate works by inhibiting the microtubule assembly by selective binding and targeting of α and β subunits of microtubules. The Company is also evaluating the candidate for treatment of COVID-19 / SARS-CoV-2 Virus and is currently enrolling patients into a Phase 3 clinical trial evaluating daily oral doses of sabizabulin in hospitalized patients who tested positive for the SARS-CoV2 virus and are at high risk for ARDS.
Veru Intends to meet the FDA and initiate a Phase 2b clinical study in Q4 2021 for evaluating sabizabulin in women with metastatic triple negative breast cancer that has become resistant to IV taxane chemotherapy. The Company’s pipeline also consists of Enobosarm, a first-in-class oral selective androgen receptor targeting agent, for the treatment of AR+/ER+, HER2- metastatic breast cancer, but prior to IV chemotherapy. The Company intends to initiate a clinical trial in H2, 2021.
Veru markets FC2, a female condom through the company’s division, The Female Health Company, in the U.S and Internationally.
Sangamo Therapeutics Inc (NASDAQ: SGMO)
Market Cap: $1.434B; Current Share Price: 9.87 USD
Data by YCharts
Insider Selling Information for Past 12 Months: Over the past year, insiders have sold stock worth over USD 175 thousand, with the biggest transaction being done by Gary Loeb, Former EXEC VP, Chief Compliance Officer at Sangamo Therapeutics. He sold shares worth USD73k at a price of US$13.18 per share. At present, Insiders own USD4.4m worth of shares of the company, which translates to 0.3% of the company.
There were no insider purchases of the shares in the course of the last year.
Recent News: As per its 2Q,2021 Financial results, the Company announced that Biogen had selected a fourth neurological disease gene target, as part of their collaboration agreement and early research activities were underway.
Company Profile: Sangamo is leveraging its expertise in gene therapy, genome editing and gene regulation technologies to deliver adeno associated virus (AAV) and mRNA platforms-based therapeutics for the treatment of inherited metabolic diseases, CNS, Oncology, hematology and immunology applications. The Company’s zinc finger nuclease technology is the gold standard for genomic therapies when it comes to three critical criterions of specificity, precision, and efficiency. It is currently developing the ZFN 2.0 platform, touted to be the next-generation ZFN construct, which is 20 times more active than current options and has the potential to develop genomic therapies for a broad range of monogenic diseases.
The Company’s pipeline consists of a phase 3 trial evaluating Giroctocogene Fitelparvovec for the treatment of Hemophilia A and multiple phase 1 / 2 trials studying the efficacy candidates such as ST-920 in Fabry Disease, TX200 in renal transplant, SAR445136 in Sickle Cell Disease and ST-400 in Beta Thalassemia. In addition, Sangamo is also conducting preclinical studies in areas such as Inflammatory Bowel Disease, Multiple Sclerosis, Amyotrophic Lateral Sclerosis/ Frontotemporal Degeneration, Huntington’s Disease, oncology and Neuro- developmental Disorders among others.
The Company has entered a global licensing collaboration agreement with Biogen to develop its Alzheimer’s and Parkinson’s programs. Furthermore, the Company has multiple collaborations and partnerships such as with Kite, a Gilead company for engineered cell therapies for oncology, with Pfizer Inc., for amyotrophic lateral sclerosis (ALS) and frontotemporal lobar degeneration (FTLD) linked to mutations of the C9ORF72 gene, with Novartis to develop therapies for autism spectrum disorder and other neurodevelopmental disorders and Sanofi for gene-edited cell therapies for the treatment of beta thalassemia and sickle cell disease among others.
Fortress Biotech (NASDAQ: FBIO)
Market Cap: $325.42M; Current Share Price: 3.22 USD
Data by YCharts
Insider Selling Information for Past 12 Months: Insiders have sold shares worth USD 252 thousand at an average price of USD 4.31 per share during the last year. The biggest transaction was for shares worth USD 127 thousand sold at a price of USD 4.45 each, by the Company’s Co-Vice Chairman, Eric Rowinsky. The transaction was at a higher price than the current share price of USD 3.22.
There was no purchase of stock by insiders in the past year. However, insider ownership is at 31 percent or USD 86 million worth of shares.
Recent News: The Company reported record net revenues of $17.8 million, which is an 89 percent increase year-over-year as per its 2Q,2021 financial results. In May 2021, the Company’s partner Journey Medical Corporation acquired Qbrexza (glycopyrronium), an FDA-approved cloth towelette from Dermira, a wholly owned subsidiary of Eli lilly. The launch marks its seventh dermatology product and targets the treatment of primary axillary hyperhidrosis in adults and adolescents.
The Company is gearing up for the rolling New Drug Application submission for CUTX-101 for the treatment of Menkes disease in H2,2021.
Company Profile: Fortress Biotech is focused on building a pipeline of commercial and development-stage products by leveraging its drug development expertise. The Company has over 25 programs under development in various therapeutic areas such as oncology/hematology, gene therapy, neurology, rare disease and pain management among others.
The Company, through its subsidiary Avenue Therapeutics, has filed an NDA for IV Tramadol, which is intended for the management of moderate to moderately severe postoperative pain. The Company received a second CRL in June 2021, with concerns that the “delayed and unpredictable onset” of pain reduction from tramadol could not be considered as a monotherapy and there wasn’t sufficient information to prove it works in combination with other therapies.
Fortress’s pipeline consists of CUTX-101 a copper histidinate injection for the treatment of Menkes disease being developed by Cyprium; MB-107 and MB-207, intended for the treatment of XSCID or bubble boy disease being developed by Mustang and Cosibelimab for Cutaneous squamous cell carcinoma (cSCC) being developed by checkpoint among many others.
Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
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References
https://verupharma.com/pipeline/sabizabulin-for-covid-19/
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