Yesterday the Ziopharm Oncology Inc (NASDAQ:ZIOP) stock experienced heavy action and ended the day with gains of as much as 33%. The rally in the stock was triggered yesterday after the emergence of news with regards to certain filings made by Ziopharm with the United States Securities and Exchange Commission.
The Form 4 filings that were made by the company revealed that some of the members of the Ziopharm board acquired large chunks of shares in the company. Investors could do well to take a look at some of the details of those share purchases.
Heidi Hagen picked up as many as 23700 shares for $1.76 each, while James Huang bought 100000 shares for an average price of $1.71 and Robert Postma managed to acquire 75000 Ziopharm shares for $1.73 a share on average. Last but not the least; Holger Weis paid an average of $1.83 to pick up 50000 shares. Such a turn of events is almost always seen as a positive from investors and it is easy to see why.
If the member of the board, who are intimately aware of the operations of the company, are buying shares in such large chunks then the company must be on the right path. It might be a good time to start tracking the Ziopharm stock.