In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Apollo Endosurgery Inc. (NASDAQ:APEN) reported that Novo Holdings A/s has picked up 1,290,193 of common stock as of 2017-07-27.
The acquisition brings the aggregate amount owned by Novo Holdings A/s to a total of 1,290,193 representing a 7.5% in the company.
For those not familiar with the company, Apollo Endosurgery, Inc., formerly Lpath, Inc., is a medical device company. The Company is focused on less invasive therapies for the treatment of obesity, as well as other gastrointestinal disorders. The Company’s device-based therapies are an alternative to invasive surgical procedures. The Company offers products in over 80 countries. The Company’s products include ORBERA, LAP-BAND and OverStitch. The Company’s product, ORBERA, is a gastric balloon. The ORBERA Intragastric Balloon System is a weight loss aid for adults suffering from obesity. The LAP-BAND System is a minimally invasive procedure that offers weight loss. The LAP-BAND System is indicated for weight reduction for patients with obesity. The OverStitch Endoscopic Suturing System enables advanced endoscopic surgery by allowing physicians to place full-thickness sutures through a flexible endoscope. OverStitch offers solutions for defects in both the upper and lower gastrointestinal tract.
A glance at Apollo Endosurgery Inc. (NASDAQ:APEN)’s key stats reveals a current market capitalization of 110.61M based on 16.39M shares outstanding and a price at last close of 6.75 per share.
Looking at insider activity, there are a few recent transactions worth noting.
Specifically, on 2017-07-25, Ptv picked up 1,090,909 at a purchase price of $$5.50 per share.This brings their total holding to 5,243,372 as of the date of the filing.
On the sell side, the most recent transaction saw Novo unload 8,426 shares at a sale price of $6.84. This brings their total holding to 1,301,842.
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 Apollo Endosurgery Inc. (NASDAQ:APEN) as things move forward to see if its progress aligns with these transactions. Subscribe below and we’ll keep you on top of what’s happening before it moves markets.