In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Transgenomic Inc. (OTCMKTS:TBIO) reported that Kirk Randal J has picked up 6,040,374 of common stock as of 2017-06-12.
The acquisition brings the aggregate amount owned by Kirk Randal J to a total of 6,040,374 representing less than 22.1% stake in the company.
For those not familiar with the company, Transgenomic, Inc. is a biotechnology company. The Company is engaged in advancing personalized medicine for the detection and treatment of cancer, and inherited diseases through its molecular technologies and clinical and research services. The Company operates through its Laboratory Services segment. The Company is engaged in the provision of its Multiplexed ICE COLD-PCR (MX-ICP) product to the clinical market, enabling the use of blood and other bodily fluids for diagnosis, monitoring and treatment of cancer. MX-ICP amplifies the ability to detect genetic mutations by approximately 100 to 400 fold. MX-ICP is validated internally on sequencing platforms, including Sanger, Next Gen Sequencing and Digital polymerase chain reaction (PCR). Its laboratory in Omaha, Nebraska is focused on providing genetic analytical services related to oncology and pharmacogenomics research services supporting Phase II and Phase III clinical trials conducted by pharmaceutical and biotechnology companies.
A glance at Transgenomic Inc. (OTCMKTS:TBIO)’s key stats reveals a current market capitalization of 7.07 Million based on 26.86 Million shares outstanding and a price at last close of $0.250 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-01-06, Kirk picked up 317,294 at a purchase price of $1.00. This brings their total holding to 894,613 as of the date of the filing.
On the sell side, the most recent transaction saw Kirk unload 108,000 shares at a sale price of $1.00. This brings their total holding to 786,613.
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 Transgenomic Inc. (OTCMKTS:TBIO) as things move forward to see if its progress aligns with these transactions.
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