In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Tandem Diabetes Care Inc. (NASDAQ:TNDM) reported that Delphi Ventures Viii Lp. has picked up 3,632,552 of common stock as of 2017-06-07.
The acquisition brings the aggregate amount owned by Delphi Ventures Viii Lp. to a total of 3,632,552 representing less than 7.3% stake in the company.
For those not familiar with the company, Tandem Diabetes Care, Inc. is a medical device company. The Company is engaged in designing, developing and commercializing products for people with insulin-dependent diabetes. The Company manufactures and sells three insulin pump products, which include t:slim Insulin Delivery System (t:slim), t:flex Insulin Delivery System (t:flex) and t:slim G4 Insulin Delivery System (t:slim G4). Its technology platform features Micro-Delivery Technology, a miniaturized pumping mechanism, which draws insulin from a flexible bag within the pump’s cartridge rather than relying on a syringe and plunger mechanism. It also features a software, which is a vivid color touch screen and a micro- universal serial bus (USB) connection that supports both a rechargeable battery and uploads to t:connect Diabetes Management Application (t:connect), its custom cloud-based data management application that provides display therapy management data from the pump and supported blood glucose meters.
A glance at Tandem Diabetes Care Inc. (NASDAQ:TNDM)’s key stats reveals a current market capitalization of 41.48 Million based on 49.84 Million shares outstanding and a price at last close of $0.820 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-03-23, Blickenstaff picked up 1,600,000 at a purchase price of $1.25. This brings their total holding to 2,007,939 as of the date of the filing.
On the sell side, the most recent transaction saw Sheridan unload 15,000 shares at a sale price of $6.52. This brings their total holding to 7,763.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Tandem Diabetes Care Inc. (NASDAQ:TNDM) as things move forward to see if its progress aligns with these transactions.
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