Pharmaceutical And Biotechnology Companies Purchased By Insiders Today

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Includes: DXR, GALT, KIPS
by: Gutone

Healthcare companies, especially pharmaceuticals, medical devices, and biotech companies often experience discrete sudden share movements due to events such as FDA drug approval or rejection, positive or negative results from drug tests, etc. Barring FDA officials, who else has the best information about these events? Insiders, especially executives and directors of the companies.

It therefore can very lucrative to track insider activities in this industry. Moreover, since many biotech companies are not yet making money, the financial records are less diagnostic than events and technical indicators.

The following companies have insider purchases today.

Click to enlarge.

DXR ChartClick to enlarge

DXR data by YCharts

Daxor Corp. (NYSEMKT:DXR) is a healthcare company, specifically in the industry of medical instruments & supplies. It is a medical device manufacturing company offering biotech services in the United States. The company develops, and markets BVA-100 Blood Volume Analyzer, an instrument that measures human blood volume. It has a market cap of $37.50 million. The company pays a trailing dividend yield of 1.10%. According to today's SEC filing, Daxor has one insider who purchased a total of 531 shares at the total value of $4,699. Its price is near the bottom, at around 0.90% off its 52-week low. The company is currently losing money operationally. Its business has to turnaround for the situation to become more positive. The trading volume has been consolidating recently. I don't think the company's overall financial record to be very solid.

GALT ChartClick to enlarge

GALT data by YCharts

Galectin Therapeutics, Inc. (NASDAQ:GALT) is a healthcare company, specifically in the industry of drugs - generic. It is a development stage company engaging in the development of therapies for cancer and fibrotic disease. It has a market cap of $33.60 million. According to today's SEC filing, Galectin Therapeutics has one insider who purchased a total of 7,500 shares at the total value of $15,750. Its price is near the bottom, at around 13.23% off its 52-week low. Low recent trading volume can be negative or positive. It can be negative because it will be difficult for people to discover this company. It can be positive because ignored stocks tend to be undervalued.

KIPS ChartClick to enlarge

KIPS data by YCharts

Kips Bay Medical, Inc. (NASDAQ:KIPS) is a healthcare company, specifically in the industry of medical instruments and supplies. It is a development stage medical device company focusing on developing, manufacturing, and commercializing external saphenous vein support technology or eSVS MESH for use in coronary artery bypass grafting, or CABG surgery in the United States. It has a market cap of $16.30 million. According to today's SEC filing, Kips Bay Medical has one insider who purchased a total of 44,104 shares at the total value of $44,070. The company is currently losing money operationally. Its business has to turnaround for the situation to become more positive. Recently, the stock is not traded actively.

Source of business information: Yahoo Finance

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.