Why 9 Meters Biopharma Stock Is Soaring Today
Shares of 9 Meters Biopharma (NASDAQ: NMTR), a clinical-stage biotech company, are trading higher on Wednesday after the company filed documents with the U.S. Securities and Exchange Commission (SEC) indicating that several of its executives have recently purchased shares of the company. As of 1:24 p.m. EDT, 9 Meters Biopharma's stock was up by 10.8% after jumping by as much as 18% earlier in the day.
The SEC Form 4 filings 9 Meters Biopharma released yesterday disclose that the company's CEO, John Temperato, bought 100,000 shares of the company's stock for $1 per share on April 5. Following the deal, Temperato owned a little over 1 million shares of the company. Also, the biotech's CFO, Edward Sitar, acquired 50,000 shares of the company for $1 per share, bringing the total number of shares he owns to almost 180,000; this transaction occurred on April 5. Finally, Mark Sirgo, chairman of 9 Meters Biopharma's board of directors, bought 300,000 shares of the company's stock on the same date and for the same price and now owns over 1 million shares.
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Source Fool.com
