BioPharmX (BPMX) Sees Strong Trading Volume Following Insider Buying Activity
BioPharmX (NASDAQ:BPMX) shares saw an uptick in trading volume on Wednesday after an insider bought additional shares in the company. 1,356,384 shares traded hands during trading, an increase of 445% from the previous session’s volume of 249,006 shares.The stock last traded at $0.31 and had previously closed at $0.28.
Specifically, Director Stephen Morlock purchased 428,571 shares of the business’s stock in a transaction dated Monday, November 28th. The shares were purchased at an average cost of $0.35 per share, with a total value of $149,999.85. Following the completion of the purchase, the director now owns 543,956 shares of the company’s stock, valued at approximately $190,384.60. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Separately, HC Wainwright reissued a “buy” rating on shares of BioPharmX in a research note on Saturday, September 17th.
The stock’s market cap is $9.66 million. The company’s 50 day moving average price is $0.29 and its 200 day moving average price is $0.57.
BioPharmX Corporation is a specialty pharmaceutical company. The Company is focused on utilizing its drug delivery technologies to develop and commercialize prescription and over-the-counter (OTC) products that address markets in women’s health and dermatology. Its portfolio of product candidates includes two clinical stage product candidates: BPX01, which is a topical antibiotic for the treatment of acne based on a formulation of minocycline, and BPX03, which is a molecular iodine (I2) tablet for the treatment of benign breast pain associated with fibrocystic breast condition (FBC) and cyclic mastalgia.
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